VPS, the brokerage market-share leader across all three exchanges, cut 286 staff in Q3, leaving 1,635 employees as of end-September. Brokerage revenue fell nearly 70% year on year to 485 billion VND from over 1,520 billion VND, though VPS kept the top market share on HoSE, HNX and UPCoM. Talentnet says staff turnover in the sector is high because brokerage roles are tied to KPIs, and firms are trimming base salary and bonus budgets as trading stays subdued despite the market upgrade. Margin lending remained the main driver, contributing nearly 950 billion VND in Q3 and nearly 2,930 billion VND over nine months, with double-digit growth. Pre-tax profit reached nearly 1,120 billion VND in Q3 and over 4,040 billion VND for nine months.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Công ty dẫn đầu thị phần môi giới chứng khoán giảm gần 300 nhân viên
Read the original on VnExpress ↗
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brokeragesmargin lendingearningsVietnam
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Related tickers and likely impact
VNINDEX
• NeutralRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 10/26/2026 | 1,763.55 |
| Change that session | -0.60% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Nearly 300 Employees Leave a Securities Firm in Q3
As of the end of Q3 2026, VPS Securities (VCK) had 1,635 employees, down 286 from the end of Q2, a decline of nearly 15% in three months. Compared with the peak of 2,561 at the end of Q2 2022, headcount is down 926, or about 36%. The cuts come as brokerage faces pressure from weakened market liquidity, with brokerage revenue falling 68.2% year on year to about 485 billion VND. Total operating revenue in Q3 was 2,076 billion VND, down 23.3%, and after-tax profit was nearly 894 billion VND, down 20.7%. Margin lending income, however, rose 34.3% to nearly 948 billion VND, and nine-month pre-tax profit still grew 27% to 4,044 billion VND.
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Securities stocks have remained weak despite expectations of gains from FTSE Russell's market upgrade and capital market development. According to VietstockFinance, as of 09/10/2026 the sector index was down 23.46% year-to-date, much deeper than the 2.77% decline of VN-Index, and had lost 39.92% over the past year. About 80% of the 43 sector stocks were more than 20% below their recent peaks, a threshold commonly used to define a bear market. Võ Kim Phụng of Chứng khoán Beta said the sector's earnings depend on liquidity, margin lending and interest rates, and that expected gains were priced in earlier; in Q3/2026, average daily trading value on HOSE and HNX fell 58% year-on-year.
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