Vietnam pushes bank consolidation to aid risk management

Control measures

ho-chi-minh
Ho Chi Minh City, Vietnam

While economies in Europe and North America have been shrinking since 2008, Vietnam’s has boomed – keeping a steady 8%-plus rate of annual expansion, according to the country’s General Statistics Office. High GDP growth went hand-in-hand with a rapid expansion of the banking system: some joint stock banks experienced year-on-year loan growth of up to 100%, according to Karolyn Seet, Singapore-based analyst at rating agency Moody’s Investors Service.

Broader credit growth was similarly turbo

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