World's Most Unbanked Countries, 2021

According to a report by Merchant Machine in 2021, Viet Nam has one of the world's largest unbanked populations, ranking 2nd globally, with 69% of adults lacking access to formal banking services. This report highlights the countries with the most significant challenges in financial inclusion, using various metrics such as the number of bank accounts per capita, access to financial institutions, and the use of digital financial services.

The report underscores the difficulties faced by many countries in expanding banking access to their populations. In Viet Nam, despite rapid economic growth and development, a substantial portion of the adult population remains unbanked, relying on informal financial practices instead of using bank accounts or digital financial services.

Southeast Asia as a region features prominently in the rankings, with two other nations joining Viet Namin the top 10. The Philippines ranks 4th with 66% of its adult population unbanked, while Indonesia ranks 9th with 51%. These figures point to a significant portion of the population in these countries that remain outside the formal banking sector, limiting their access to financial resources and services that are crucial for economic growth and personal financial security.

The data collected for this ranking is sourced from government reports, global surveys, and international organizations, reflecting a comprehensive assessment of the financial accessibility landscape in different countries. The findings highlight the urgent need for increased efforts to improve financial inclusion across Southeast Asia and other regions with high unbanked populations.