Vietnam Wealth Management Forum 2019 - Highlights - Gauraw Srivastava

Gauraw Srivastava of VPBank

Sep 19, 2019

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1. What are the challenges and opportunities for this industry?

Video transcript

1. What are the challenges and opportunities for this industry?

Opportunity first: I think that Vietnam is moving quite fast in terms of wealth creation. There are multiple reports looking at, that frank report that we looked at last. Talking about USD1 million customers - there are some 26,000 customers (in this bracket) in 2017, expected to be about 35,000 by 2022. So, (when) you talk about the ultra-high net worth segment - big clients, huge money. Talking about mass affluent segment, 45 million people are in the middle income (bracket), young demographics present a huge opportunity for the banks or other organisations, backed with digital, to reach out to these customers. They can bring a lot of strength to our wealth management industry. So, I think both from a mass affluent and a private banking client perspective, the market brings huge opportunity.

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