1、CoverOpportunities for Financial Institutions in Vietnam:Adaptation Amid Macroeconomic and Financial RisksResearch IntelligenceMay 2025Krungsri ResearchContentsSubscribe UsContentsDisclaimerUnless explicitly stated otherwise,this publication and all material therein is under the copyright of Krungsr

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3、terial cited.Moreover,Krungsri Research will not be held responsible for any losses that may occur either directly or indirectly from any use to which this report or the data contained therein may be put.The information,opinions,and judgements expressed in this report are those of Krungsri Research,

4、but this publication does not necessarily reflect the opinions of Bank of Ayudhya Public Company Limited or of any other companies within the same commercial group.This report is an accurate reflection of the thinking and opinions of Krungsri Research as of the day of publication,but we reserve the

5、right to change those opinions without prior notice.For research subscription,Introduction3Economic Landscape4Financial Landscape 7Development in Financial Sector and Linkages with the Real Economy10Business Opportunities for Financial Institutions in Vietnam14Krungsri Research View16References173In

6、troductionOver the past decade,Vietnam has experienced remarkable economic growth compared to other ASEAN countries,primarily driven by its export-oriented manufacturing sector and rising inflows of foreign direct investment(FDI).This trajectory aligns with the global trend of supply chain diversifi