Finnish investment firm PYN Elite bets big on Vietnamese Banks

Finnish investment firm PYN Elite is showing strong support for Vietnamese banks by dedicating half of its portfolio to them. This highlights PYN Elite’s confidence in the growth potential of Vietnam’s banking sector.

By the end of August, six major Vietnamese banks—Sacombank, MBBank, TPBank, HDBank, VietinBank, and OCBank—made up over 50% of the fund’s investments. Despite a tough market, these banks have shown resilience, continuing to grow their earnings.

PYN Elite is optimistic about future market conditions that could lead to big gains for bank stocks. The fund expects the price-to-book ratio of these banks to drop below 1.0 in the next few months, making them more attractive to investors.

In a recent move, PYN Elite bought 21.5 million shares in Vietcapital Securities, becoming a key stakeholder. This aligns with upcoming changes in Vietnam’s stock market regulations, set to take effect in November, which are likely to attract more institutional investors.

By investing heavily in Vietnamese banks, PYN Elite focuses on capitalizing on their strong growth potential, which has even surpassed the performance of some major U.S. tech companies. This strategy reflects the exciting opportunities available in Vietnam’s financial market.

Source: The Investor