Margin Debt Hits Record Near 440,000 Billion VND as Bank-Backed Brokerages Surge

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• VIX Securities Reports 94% Plunge in Q3 Profit, Margin Loan Balance Falls 1,500 Billion VND in One Quarter

  VIX Securities reported third-quarter 2026 pre-tax profit of 192 billion VND, down 94% year on year, and after-tax profit of nearly 174 billion VND, down 93%. Operating revenue fell 36% to 2,048 billion VND, while operating expenses surged from 50 billion to 1,744 billion VND. The main cause was the FVTPL (fair value through profit or loss) portfolio, where losses reached 1,717 billion VND and the net gap between gains and losses turned negative at about 87 billion VND, versus a positive 2,762 billion VND a year earlier. Brokerage revenue fell 60% to 37 billion VND, while lending and receivables brought in 337 billion VND, down 1%. As of September 30, 2026, margin loan balances fell about 1,500 billion VND from the end of Q2, and total assets rose 16.7% to 39,860 billion VND.

  CafeF·20/10, 03:28▼ VIX• VCIVIXbrokeragesmargin lending
• SSI Securities' Q3 2026 profit revealed

  SSI estimates Q3 2026 revenue at VND 3,219 billion and pre-tax profit at VND 1,388 billion, with pre-tax profit down 24% year on year. For the first nine months of 2026, consolidated revenue is estimated at VND 9,871 billion and pre-tax profit at VND 4,510 billion, up 5% and 11% respectively, completing 77% of the full-year profit plan. As of September 30, 2026, the parent company's total assets reached VND 92,441 billion and equity VND 38,057 billion. In Q3, SSI held an 11.09% share of brokerage on HOSE, margin lending revenue rose 11% to VND 1,115 billion with a margin loan balance of VND 38,294 billion, and investment activities contributed about 46% of quarterly revenue.

  CafeF·20/10, 11:14• SSISSIbrokeragesearnings
• SSI to buy back over 800,000 ESOP shares as treasury stock

  SSI will buy back 801,500 ESOP shares from 64 former employees to hold as treasury stock, at VND 10,000 per share under its 2023, 2024 and 2025 ESOP regulations, using over VND 8 billion in working capital. The transfer through VSDC is expected between 29/10/2026 and 30/11/2026. Separately, SSI will establish a Digital Products Center from 21/10/2026, with its operating rules and organizational structure set by the General Director. Board member Nguyễn Hồng Nam reported buying 5 million SSI shares between 26/8/2026 and 11/9/2026, raising his holding to 17.43 million shares (0.58% of charter capital), including over 2.07 million bonus shares.

  CafeF·18/10, 03:04▲ SSISSIbrokeragestreasury stock
• Securities Firms' Q3 2026 Results as of October 17: First Hundred-Billion-Dong Loss Emerges in the Sector

  As of October 17, 5 of the 10 securities firms that had reported Q3 2026 results posted profits and 5 posted losses, with earnings diverging sharply due to large swings in proprietary trading. Rồng Việt Securities JSC (VDS) reported a pre-tax loss of over VND 105 billion, versus a profit of nearly VND 310 billion a year earlier, as investment revenue fell nearly 90% and portfolio devaluation costs exceeded VND 124.5 billion. EVS also posted a pre-tax loss of over VND 52 billion in Q3. In contrast, NH Vietnam Securities (NHSV) reported revenue of nearly VND 131 billion, up 69%, driven by lending and held-to-maturity investment income. MBS is currently leading the group in profit scale.

  CafeF·16/10, 17:01▼ SSI▼ VCI▼ VND▼ HCMbrokeragesearningsSSI
• A bank stock unexpectedly drew nearly 300 billion VND in net buying from securities firms' proprietary desks early this week

  On 19/10, the VN-Index fell 16.07 points (-0.94%) to 1,689.84, with selling pressure intensifying in the afternoon session. Securities firms' proprietary trading net bought 275 billion VND on HoSE, led by CTG at 230 billion VND, followed by KBC (134 billion), VPB (133 billion) and MSN (45 billion). On the other side, proprietary desks net sold the most of ACB at 221 billion VND and FRT at 144 billion VND.

  CafeF·19/10, 10:20▲ VNINDEXVNINDEXbanksbrokerages
• Liquidity Plunges as Money Exits Retail, Oil & Gas and Securities StocksVietstock·19/10, 13:30▼ VNINDEX▼ BSR▼ FRT▼ HCMVNINDEXliquiditycapital flows

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  Yahoo Finance·20/10, 17:39interest ratesdividendsbonds
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  Yahoo Finance·20/10, 17:38mergers and acquisitionssoftwareKVYO
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  Yahoo Finance·20/10, 17:35▲ NVDAWDCartificial intelligencedata centers
• Profile of a Port Tycoon Newly Appearing at Eximbank: Invests Over VND 700 Billion in GEX and VIX Shares, Borrows VND 2,800 Billion from Eximbank, Acquires Real Estate Firm with Many Projects Partnering with GELEX

  Viconship (VSC) appears for the first time on the list of shareholders holding at least 1% of Eximbank (EIB), with over 18.7 million shares, or 1.01%. As of June 30, 2026, the company held GEX and VIX shares with a cost of nearly 716 billion VND and a fair value of about 790 billion VND, while its Q2 report showed no EIB shares. Viconship also owed Eximbank roughly 2,856 billion VND in long-term loans, with initial interest rates of 7–10% per year, and owed VIX 322 billion VND in short-term borrowings. Its board approved a deposit agreement to acquire 100% of the capital of Viconship Industrial Infrastructure and Real Estate Co., Ltd (BDSV) for no more than 1,100 billion VND, and BDSV had previously co-invested with the GELEX ecosystem in infrastructure companies.

  CafeF·20/10, 17:30▲ GEX▲ VIX• EIBGEXVIXbanks
• Amid the wave of rate cuts, how are banks attracting deposits?

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  CafeF·20/10, 17:26• VNINDEXinterest ratesState Bank of Vietnambanks
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  econotimes.com·20/10, 17:15Chinacentral bankyuan