Bank card circulation hit 157 million in Q1

May 27, 2025 | 11:22

(0) user say

There were nearly 157 million bank cards circulating in Vietnam by the end of the first quarter, up one million cards from late 2024.

Bank card circulation hit 157 million in Q1

According to the latest data from the Payment Department under the State Bank of Vietnam,
the number of cards in circulation is 1.5 times higher than four years ago.

Notably, international payment cards are on an upward trajectory. In the first quarter of the year, credit institutions issued an additional 1.8 million international cards, bringing the total number to 50.2 million cards, three times higher than at the beginning of 2021.

On the other hand, the issuance of domestic cards has shown signs of slowing down. The total number of domestic payment cards reaches about 107 million, down 700,000 cards compared to the end of last year and the lowest level in the past year.

Transactions via ATMs, including withdrawals, transfers, savings, and others, decreased slightly in the first quarter of the year. People made well over 183 million transactions with a total value of VND662.8 trillion ($25.6 billion), down VND2 trillion ($77.2 million) compared to the fourth quarter of 2024. Meanwhile, transactions via internet and mobile banking soared sharply, with 4.47 billion transactions at a value of over VND41.8 quadrillion ($1.6 trillion).

According to regulations, organisations that are allowed to issue cards include commercial banks, policy banks, foreign bank branches in Vietnam, and consumer finance companies.

Debit, credit, and prepaid card users can only be issued to people aged 15 and over. Children aged 6-15 can also open a supplementary card if they have the consent of their guardian or legal representative.

Credit growth cap strategy on the cards

The State Bank of Vietnam last week signalled its ambition to explore a roadmap to lift credit growth caps, potentially allowing commercial banks greater flexibility in their lending activities.

Outlook brightens for bank stocks in H2

As bank stocks continue to trade below their book value, the sector is seeing growing optimism for the second half of the year (H2).

Banks remain decisive to push against headwinds

Credit growth is becoming increasingly difficult to sustain amid mounting external pressures. Nguyen Quoc Hung, vice chairman and general secretary of the Vietnam Banks Association, talked with VIR’s Vy Vy how banks must go beyond restructuring growth models.

By Thanh Van

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional