9:24:14 AM | 31/3/2008
Vietnamese young people are interested in using bank cards, according to a survey by McKinsey.
The survey, conducted on 13,000 bank customers in cities in Vietnam, showed that 89 per cent of young people in the country have their own bankcards, compared to 40 per cent of old people.
Customers aged between 21 and 29 use more banking services than their older brothers and sisters.
While 91 per cent of young people have saving accounts, 55 per cent of over 30 year-old people have such accounts.
The young are ready and want to use such banking services as phone banking, internet banking more than their parents.
The survey also indicated that people in Ho Chi Minh City prefer banking services to those in Hanoi. 42 per cent of clients in Ho Chi Minh City say they will try automatic banking services, while only 24 per cent in Hanoi say so.
McKinsey said Vietnam has potential growth of banking transactions. Retail banking services can grow 25 per cent per annum in the next 5-10 years, the highest growth in Asia, thanks to Vietnam’s high economic growth and increase in income of households.
There are still a few of retail banks in Vietnam, McKinsey said, given that total assets of local banks were about US$75 billion by the end of 2006, equivalent to 123 per cent of GDP, while this figure was US$226 billion in Thailand and US$302 billion in Malaysia. (Pioneer)
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