Vietnam Holding Limited’s (LON:VNH) net asset value rose by 8.3% in April helped by the performance of portfolio heavyweight VP Bank.
The bank closed a deal to sell 49% of its subsidiary FE Credit to SMBC, which will benefit it in the long run and strengthen its financial capability for the next cycle of development, said Dynam Capital, VNH’s manager.
Core banking and payments system digitalisation are top priorities among the biggest Vietnamese banks in anticipation of rising consumer demands by 2025, Dynam added.
Aside from banks, companies exposed to more traditional areas of urbanisation and domestic infrastructure spend are also seeing benefits and groups such as steelmaker Hoa Phat are reporting rapidly rising earnings.
“We have revised upwards our forecast portfolio 2021 earnings growth from 23% at the beginning of the year to around 40%,” Dynam added.
Shares ere trading today at 225p, up 1.35%.