Along with maintaining high growth and macroeconomic stability, people's living standards have improved significantly, including strong increase in income and the demand for banking services. In the context of international economic integration, the activities of credit institutions in Vietnam’s banking sector has fundamentally altered both the quantity and quality. Accordingly, the income structure of credit institutions (CIs) has a more reasonable transition towards declining revenue from banking and credit operations and increasing revenues from banking service activities.

Regarding the banking systems, the local banking sector has two tiers. The first tier is SBV being responsible for conducting monetary policy and for supervision and regulation of the banking system. The second tier includes commercial banks, financial companies, credit co-operatives, people's credit funds, and insurance companies. This Section focuses only on the commercial banks which consist of State-run banks, joint stock banks, joint venture banks, foreign bank branches, and foreign bank ROs.

Among all, foreign banks wishing to establish a presence in Vietnam has a choice of four types, including joint venture banks, wholly foreign owned banks, foreign bank branches and foreign bank ROs. All the applications for and registrations in relation to those types are subject to the jurisdiction of SBV.

Moreover, in terms of insurance sector in Vietnam, it has experienced an impressive growth over the recne years. As a potential market, the insurance sector has also grown rapidly in terms of market size. The number of companies has been increasing. Forms of ownership in both life and non-life insurance are diverse. In all three areas of human insurance, property insurance and civil liability insurance, the competitiveness of the company is taking steps to better meet the of customers’ needs.

Vietnam insurance market has emerged with new products with  combination of savings and investment protection, such as insurance tariffs for personal accident using ATM cards, insurance of livestock and poultry feed production… The growth in sales of Vietnam's insurance is relatively high compared to that of the world and the areas.

Regarding securities services, up to now, after nearly 20 years of operation, Vietnam stock market has gained number of achievements. The systems of security organization have developed rapidly in size and business capability, the network of branches and transaction offices spread across major provinces and cities in the country, providing easier access to the stock market.

According to foreign investors’ evaluation, Vietnam is a potential land for financial services – banking and insurance development. Also, financial - banking and insurance development potential in Vietnam is still large; especially for banks and companies who are capable of providing diverse channel transactions. Besides, the managing direction of  Vietnam State Bank and Government's policies have become increasingly open and to support the market through promotion of economic activities and improve people’s living standard.