Vietnam needs more than 80 banks

Sharing the same view, The Deputy Director of a bank said that the demand for banking services would increase in accordance with the increase in people’s incomes. The average income of Vietnamese people has increased from $300 per capita per year to $700. Meanwhile, the development of the real estate and stock market has helped increase the demand for banking retail services, which is reflected in the banking retail market boom in the last two years. However, the problem lies in the fact that Vietnamese people always follow others’ moves. Investors rush to set up banks just because they find the banking sector profitable, while they themselves do not have their own development plans. Therefore, it is necessary to draw up a banking development strategy which gives support to good banks and prevents bad ones.