Three securities firms have been the first to report Q3 2026 results, showing a clear divergence. MB Securities (MBS) posted Q3 pre-tax profit of nearly 394 billion VND, down about 6% year on year, even as operating revenue rose 25% to about 1,453 billion VND, driven by FVTPL income up about 145%, while brokerage revenue fell 65% to about 128 billion VND. For the first nine months, MBS's pre-tax profit reached nearly 1,140 billion VND (up 11%), about 62% of its full-year plan of 1,850 billion VND. HVS, a smaller firm, saw Q3 revenue rise nearly 77% to over 5.16 billion VND and pre-tax profit jump 264% to over 2.1 billion VND, mainly from interest on held-to-maturity investments; nine-month pre-tax profit was over 5.2 billion VND, up 238%. BIS remained loss-making, with a Q3 pre-tax loss of about 2 billion VND, narrowed from about 7 billion VND a year earlier, and a nine-month pre-tax loss of about 2 billion VND.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Cập nhật số liệu CTCK ngày 15/10: Những tên tuổi đầu tiên hé lộ KQKD quý 3, xuất hiện khoản lãi tăng đột biến gần 300%
Related tickers and likely impact
HCM
▲ Likely positiveHo Chi Minh Securities
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Financial Services |
| Industry | Investment Services |
| Market cap | 26,171 bn VND |
| P/E | 19.8 |
| P/B | 1.55 |
| Close on 10/14/2026 | 23.10 |
| Change that session | +0.43% |
SSI
▲ Likely positiveSSI Securities
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Financial Services |
| Industry | Investment Services |
| Market cap | 58,376 bn VND |
| P/E | 12.2 |
| P/B | 1.53 |
| Close on 10/14/2026 | 18.90 |
| Change that session | 0.00% |
VCI
▲ Likely positiveVietcap
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Financial Services |
| Industry | Investment Services |
| Market cap | 21,835 bn VND |
| P/E | 15.0 |
| P/B | 1.27 |
| Close on 10/14/2026 | 18.60 |
| Change that session | +1.36% |
VIX
▲ Likely positiveVIX Securities
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Financial Services |
| Industry | Investment Services |
| Market cap | 30,488 bn VND |
| P/E | 7.7 |
| P/B | 0.93 |
| Close on 10/14/2026 | 11.50 |
| Change that session | 0.00% |
VND
▲ Likely positiveVNDIRECT
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Financial Services |
| Industry | Investment Services |
| Market cap | 20,170 bn VND |
| P/E | 7.5 |
| P/B | 0.94 |
| Close on 10/14/2026 | 13.00 |
| Change that session | +0.78% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Liquidity Plunges as Money Exits Retail, Oil & Gas and Securities Stocks
- Outstanding credit as of October 14 tops 20.7 million billion dong; banks agree to cut lending rates after meeting with the State Bank on the morning of October 19
As of October 14, 2026, outstanding credit to the economy reached 20,721,583 billion dong, up 11.44% from the end of last year and 16.73% year-on-year. On the morning of October 19, State Bank of Vietnam (SBV) Governor Phạm Đức Ấn met with chairs and CEOs of commercial banks, and the banks agreed to cut interest rates. Specifically, listed deposit rates for terms of 6 months or more will fall by at least 0.5%/year, while lending rates will drop by 1.5–2%/year, focusing on production, business and priority sectors. The backdrop includes Middle East conflict driving up oil prices, several major central banks raising rates and a stronger US dollar, all of which pressure Vietnam's monetary policy. The SBV also asks banks to channel credit into production and business while tightly controlling lending to risky sectors, including real estate.
- Official proposal for a controlled sandbox mechanism in the securities sector
Finance Minister Ngo Van Tuan presented on 17 October a draft Securities Law amendment adding Article 6a, a controlled sandbox for testing new technologies, products and business models within limited scope, duration and state oversight. The draft also codifies administrative simplification under Resolution No. 66.16/NQ-CP and requires the Prime Minister to issue a decision on the operating model of stock exchanges within one year of the law's effect, which is proposed for 1 March 2027. The Economic and Finance Committee broadly agreed but asked for clear rules on authority, testing limits, risk warnings, asset segregation, data protection and handling of failed tests. It also urged that liability exemptions be strict and not cover compensation for fault or violations.
- 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.
- Surprising Profit Forecasts for Securities, Oil & Gas and Fertilizer Groups in 2027
Pinetree forecasts 2027 profit growth of about 34% for insurance, 18% for industrial parks and 7% for technology, while securities profit may fall 19%. Banks account for about 45% of projected 2026 listed profit, with profit at 27 listed banks expected to rise 12.6% in 2026 before slowing to 4.9% in 2027 as funding costs climb following recent deposit rate increases. Oil and gas, fertilizer and mining, whose profits were boosted by commodity prices in 2026, are forecast to see profit fall about 30%, 29% and 24% respectively. On foreign capital, foreign investors had net sold over 98,300 billion VND through September 2026, and Pinetree expects this trend to continue in Q4 2026 and early 2027.
- Securities Firms Data Update as of October 16: One Company Posts Nearly VND 10 Billion Loss in Q3 2026
As of October 16, five securities companies had reported Q3 2026 results, showing wide divergence. CTCP Chứng khoán Việt Thành (VTS) posted Q3 operating revenue of over 7.2 billion VND, down 83% year on year, and its pre-tax profit swung from a 29 billion VND profit to a loss of nearly 10 billion VND, mainly due to a sharp drop in proprietary trading and losses of over 11.8 billion VND on sales of FVTPL financial assets. For nine months, VTS reported a pre-tax loss of over 2 billion VND, compared with a 41.3 billion VND profit a year earlier. By contrast, Chứng khoán Ngân hàng Public Việt Nam (PBSV) recorded Q3 revenue of over 30 billion VND, up nearly 25%, and pre-tax profit of nearly 14 billion VND, up 59%, driven by a 71% rise in interest income from loans and receivables. Its nine-month pre-tax profit reached nearly 37.8 billion VND, 2.3 times the same period last year.
Related markets
Latest news
- Why Meta's Q3 earnings could be a little hard to interpret
Meta is reporting its third-quarter earnings after the market closes Wednesday, and Yahoo Finance's Brian Sozzi says the report will be hard to interpret. Recent good news on Meta's AI products, including new models and an AI agent, may not appear directly in the results but will likely be discussed on the earnings call. The key uncertainty is how investors will react if Meta raises its capex outlook again: it could be seen as fueling those products, or as overspending on offerings not yet reflected in financials. Sozzi expects the market to give Meta the benefit of the doubt on higher capex, as long as the increase does not shock investors.
- Zerohash rolls out a new tool to move crypto without copying wallet addresses
Zerohash launched AUTH, a service that lets users move crypto, stablecoins and blockchain-based stock tokens between linked exchange accounts or self-custody wallets without copying wallet addresses or choosing a blockchain network. To transfer, users pick an account in an app that offers AUTH, sign in and approve the move, while the service handles routing and settlement and each app sets which assets and transfer types it allows. AUTH supports more than 600 connections, including Coinbase, Robinhood, Gemini, MetaMask and Phantom, with Coinbase, Robinhood and Gemini live and Kraken in beta. The launch comes as Zerohash's application for a national trust bank charter, returned by the Office of the Comptroller of the Currency in July, remains pending after a narrower refiling on Aug. 18.
- 2 charts show why Wall Street is right to worry about tech stocks
Rising cost of capital could affect the financial statements of hyperscalers such as Oracle (ORCL) and Google (GOOG, GOOGL) in 2027, as they need fresh debt to fund AI infrastructure and free cash flow may turn negative. JPMorgan strategist Mislav Matejka forecasts hyperscaler free cash flow will turn negative in 2027, implying credit markets will drive more of the AI build-out. Consensus estimates for 2027 capital expenditures are already rising from levels experts believe are too low. Morgan Stanley sees total 2027 capex among hyperscalers reaching $1.6 trillion, up from $978 billion estimated for this year. Dan Ives of Yorkville expects capex to reach the trillions and over 1,000 datacenters to be built in the next few years.
- Update on loan rate cuts as of the evening of Oct 19: MB, VietinBank, SHB, OCB join in
SHB, MB, VietinBank and OCB have announced loan rate cuts, following Agribank, Vietcombank, BIDV, ACB, LPBank and VietBank, with typical reductions of 1.5-2% per year. MB is cutting 1.5% per year for five priority sectors, to rates from 7.9% per year, and up to 2% in some cases; VietinBank is cutting up to 2% per year, while OCB offers up to 2.25% per year on some medium- and long-term loans for OCB Priority Banking members. SHB is cutting 1.5-2% per year for businesses and households and offers rates from 5.5% per year for lecturers and students at some universities. Vietcombank commits to cutting at least 2% through year-end, BIDV applies rates from 6% per year on short-term VND loans from 15/10/2026, and VietBank runs a VND 3,000 billion package. Specific benefits depend on borrower type, loan purpose, term and program conditions, following directives from the Government and the State Bank of Vietnam.
- Nvidia wins CPU business from Modal, previously exclusive to AMD and Intel
Modal, a San Francisco-based AI cloud startup that previously ran its AI agent workloads only on Intel and AMD processors, will begin using Nvidia's new Vera CPU. Early tests showed the Nvidia chip doubled work capacity for AI agents, and Modal plans to run it alongside Intel and AMD chips, assigning each task to the most efficient hardware, though integration requires substantial software changes. Modal recently raised $750 million in a round led by Accel at a $15.75 billion valuation and expects $1 billion in sales over the next year, with usage tripled and revenue up more than 15 times year-over-year. Nvidia projects at least $20 billion in Vera chip revenue this fiscal year in a market it estimates at about $200 billion, and says OpenAI, Anthropic, Oracle and Perplexity also plan to use the chips.
- America's EV Plans Have Died
Billions of dollars went into EV factories, dealerships and marketing after President Biden set a goal for 50% of new US car sales to be zero-emission by 2030, but EV sales have since fallen sharply. US EV sales dropped 30.7% in the first nine months of 2026, after the $7,500 tax credit expired on September 30 last year, and gas prices near $4.50 per gallon have done little to lift them. According to Kelley Blue Book, the average transaction price of a new EV was $54,754 in August, above the $50,089 average for all new cars. Ford's EV sales fell 80.2% to 6,047 in the third quarter, and it has no new EV planned until its Fathom launches next year, while Tesla holds over 50% of the market and no other major automaker has even 10%. The article says EVs could recover if gas prices reach $5 and stay there for months, but that is uncertain.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.