Having fewer regulations for personal loans under 100 million VND (3,974 USD) doesn't mean the approval process will be easier, said policymakers and industry experts.

Several banks are keen to establish consumer finance arms to grab a bigger share of a market that is expected to reach 1,000 trillion VND (4.38 billion USD) by 2020 and grow at 29 percent annually.

The Monetary Authority of Singapore (MAS) on February 14 announced changes to strengthen the resilience of finance companies and enhance their ability to provide funding to small- and medium sized enterprises (SMEs).