From 2013 to 2023, Vietnam's credit bureau coverage expanded significantly, increasing from 0% to 29.6% of the adult population. While initial growth rates were high, peaking at 392.86% in 2015, the rate has moderated in recent years, with a 5.71% year-on-year increase from 2022 to 2023. The five-year CAGR shows decelerating trends, moving from 71.22% in 2019 to a near-zero increase by 2023.
Looking forward from 2024, forecasted growth rates show a steady but modest rise, with a projected CAGR of 3.54% over the next five years, reaching 37% by 2028. This projected growth indicates confidence in the continued expansion of credit bureau coverage despite the slowdown in recent years.
Future trends to watch for include technological advancements in credit reporting, regulatory changes, and broader financial inclusion initiatives, which could further influence the trajectory of credit bureau coverage in Vietnam.
