Vietnam banks have a rare mix high growth and returns: JP Morgan


A customer uses a Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, automatic teller machine (ATM) in Hanoi, Vietnam.

Justin Mott | Bloomberg | Getty Images

Vietnam’s banking sector is an attractive investment opportunity because it is generating a lot of capital and growing fast, according to a senior banker at J.P. Morgan.

It is a rare combination where Vietnamese banks are growing fast and are quite profitable, Harsh Modi, co-head of Asia ex-Japan for financials research at the investment bank, told CNBC.

As such, they are able to sustain high growth without needing too much capital for long periods of time

“The return on equity that they’re generating is quite…


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