Vietnamese auto-finance is big business right now. A buoyant consumer confidence index, constant prime lending rates and growing car sales have been major drivers set within a healthy economic climate of GDP growth to rival China’s. This is coupled with a surge in new car ownership following a period of stagnation in 2017 while customers waited for a 0% tax on imported cars to kick in on January 1st 2018.

While millennials are still maligned by the media, the truth of the matter is that many are settling comfortably into their thirties as we speak. Indeed, some are already parents themselves.

This is a demographic with definite purchasing power. It’s also a demographic in a lot of debt. And the problem is evident worldwide.

 

EFS

While millennials are still maligned by the media, the truth of the matter is that many are settling comfortably into their thirties as we speak. Indeed, some are already parents themselves.

This is a demographic with definite purchasing power. It’s also a demographic in a lot of debt. And the problem is evident worldwide.

 

EFS

The UAE is a thriving market for banks right now, with gross assets increasing by 7.9% year-on-year in 2018 for the top 10 local banks. As a result, many major international players have been making moves in the region in recent months. Indeed, HSBC, which is comfortably one of the largest banks in the world, recently increased its stake in HSBC Saudi Arabia to 51% and smaller retail banks are beginning to follow suit.

 

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