Retail sale segment- delicious cake for domestic, foreign banks
Both foreign and domestic banks are racing to develop retail sale strategies in Vietnam, the 93-million-people country-a fertile land for banking retail business.
HSBC leads foreign banks in retail sales revenue. Foreign and domestic banks are developing retail sale strategies. (Photo: vir.com.vn)
Hanoi (VNA) – Both foreign and domestic banks are racing to developretail sale strategies in Vietnam, the 93-million-people country-a fertile landfor banking retail business.
Vietnam’s two largest foreign banks, HSBC and Standard Chartered Bank, haveseen robust retail sales. Standard Chartered Bank officials said that the bank plansto recruit more in the retail sale cluster. Meanwhile, with a profoundunderstanding of the domestic market, HSBC leads foreign banks in retail salesrevenue.
Shinhan Bank, from the Republic of Korea (RoK), also wants a slice of Vietnam’sretail sector. Recently, the bank purchased the retail business of theAustralia and New Zealand Banking Group (ANZ). Last year, the bank outstrippeddomestic banks by earning more 1 trillion VND (43.9 million USD) from retailservices.
Two other foreign banks have been on the lookout for retail businesses fromother banks in the country.
Another bank from the RoK, Woorie, is making a beeline to branch out retailproducts in the country this year.
Meanwhile, retail is a core strategy of domestic banks. Large names like BIDV,VietinBank and Vietcombank are also developing in the retail sale sector.
VIB has announced the completion of its acquirement of a foreign bank’s branchin Ho Chi Minh City.
The VIB leader declined to reveal the name of the branch, but added the bankpursues its plan of purchasing the retail business of other banks in 2017. -VNA
The total revenue from retail trade and services saw a year-on-year rise of 10 percent, to 15 billion USD in January, according to the General Statistics Office (GSO).
The country’s total retail sales and services revenue reached 1,267.9 trillion VND (56.7 billion USD) in the first four months of this year, a year on year increase of 6.7 percent.
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In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
HSBC leads foreign banks in retail sales revenue. Foreign and domestic banks are developing retail sale strategies. (Photo: vir.com.vn) 
