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Impact of Fintech’s Development on Bank Performance: An Empirical Study from Vietnam

Gadjah Mada International Journal of Business (GamaIJB) · Vol. 26 No. 1 (2024) · pp. 1–22

DOI
10.22146/gamaijb.71040
ISSN
2338-7238, 1411-1128
Published
2024-01-05
Publisher
Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada
Language
eng
License
creativecommons.org/licenses/by-sa/4.0

Abstract

In recent years, fintech has exploded in popularity and importance in the finan- cial industry. Its impacts have spread widely throughout the world, including Vietnam. This study aims to investigate the effect of fintech’s development on bank performance in Vietnam. Based on the unstructured data about fintech on the financial expert web- sites from Vietnam, the word frequency statistic technique of the text mining approach is applied for measuring fintech’s development under the support of Python-based solu- tions. The bank-level data of 15 Vietnamese banks for the period from the first quarter of 2019 to the second quarter of 2021 are collected from the quarterly financial statements in the Vietstock organization. Python programming and text mining techniques are used to compile this dataset by gathering information from popular and relevant websites. The generalized least squares method is used for estimating the panel models. The estimation result shows the significant impact of fintech’s development on bank profitability, but the net interest margin does not associate with the fintech variable. Besides, some interesting findings are revealed: The slow banking transformation to adapt to the rise of fintech and the COVID-19 pandemic increased bank profitability. Furthermore, suggestions for the banks and fintech companies are recommended, and the limitations and directions for further research are also proposed.

Keywords

Collaboration network of the authors

8 authors · 16 co-authorship links · 8 across different organisations

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  • Can Tho University
  • Tomas Bata University in Zlín
  • Asian Institute of Technology
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
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Co-authorOrganisationJoint articles
Diep NguyenAffiliation unknown1
Lubor HomolkaAsian Institute of Technology1
Hanh NguyenAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://journal.ugm.ac.id/gamaijb/oai, first harvested 28 Okt 2026, last seen 28 Okt 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en-US">Impact of Fintech’s Development on Bank Performance: An Empirical Study from Vietnam</dc:title>
	<dc:creator>Pham, Tien Phat</dc:creator>
	<dc:creator>Huynh, Hoc Thai</dc:creator>
	<dc:creator>Popesko, Boris</dc:creator>
	<dc:creator>Hoang, Sinh Duc</dc:creator>
	<dc:creator>Tran, Tri Ba</dc:creator>
	<dc:subject xml:lang="en-US">Finance; Fintech</dc:subject>
	<dc:subject xml:lang="en-US">Fintech; Bank Performance; Text Mining; Vietnam</dc:subject>
	<dc:subject xml:lang="en-US">G21; O30</dc:subject>
	<dc:description xml:lang="en-US">In recent years, fintech has exploded in popularity and importance in the finan- cial industry. Its impacts have spread widely throughout the world, including Vietnam. This study aims to investigate the effect of fintech’s development on bank performance in Vietnam. Based on the unstructured data about fintech on the financial expert web- sites from Vietnam, the word frequency statistic technique of the text mining approach is applied for measuring fintech’s development under the support of Python-based solu- tions. The bank-level data of 15 Vietnamese banks for the period from the first quarter of 2019 to the second quarter of 2021 are collected from the quarterly financial statements in the Vietstock organization. Python programming and text mining techniques are used to compile this dataset by gathering information from popular and relevant websites. The generalized least squares method is used for estimating the panel models. The estimation result shows the significant impact of fintech’s development on bank profitability, but the net interest margin does not associate with the fintech variable. Besides, some interesting findings are revealed: The slow banking transformation to adapt to the rise of fintech and the COVID-19 pandemic increased bank profitability. Furthermore, suggestions for the banks and fintech companies are recommended, and the limitations and directions for further research are also proposed.</dc:description>
	<dc:publisher xml:lang="en-US">Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada</dc:publisher>
	<dc:contributor xml:lang="en-US"></dc:contributor>
	<dc:date>2024-01-05</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.ugm.ac.id/gamaijb/article/view/71040</dc:identifier>
	<dc:identifier>10.22146/gamaijb.71040</dc:identifier>
	<dc:source xml:lang="en-US">Gadjah Mada International Journal of Business; Vol 26, No 1 (2024): January - April; 1 - 22</dc:source>
	<dc:source>2338-7238</dc:source>
	<dc:source>1411-1128</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.ugm.ac.id/gamaijb/article/view/71040/38338</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2024 Gadjah Mada International Journal of Business</dc:rights>
	<dc:rights xml:lang="en-US">http://creativecommons.org/licenses/by-sa/4.0</dc:rights>
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