The securities industry on the cusp of a new phase: bigger capital, stronger lending, fiercer competition

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• 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
• Securities firm update as of October 19: TCBS posts record profit, many firms report weaker Q3 earnings, some swing to losses

  As of the afternoon of October 19, 20 securities companies had reported Q3 2026 results. TCBS (ticker TCX) posted pre-tax profit of VND 2,152 billion in Q3, its highest quarterly level on record, driven mainly by margin lending and advances on sales proceeds, which generated net income of VND 1,548 billion, up 55%. JBSV's pre-tax profit exceeded VND 46 billion, three times the same period last year, supported by lending and underwriting. In contrast, DSC's Q3 pre-tax profit fell 98% as proprietary trading weakened and costs rose; Pinetree's fell 28%; ASAM posted a pre-tax loss of over VND 1 billion, and VISC swung to a loss of over VND 812 million.

  CafeF·19/10, 08:06▲ TCX• VNINDEXTCXbrokeragesearnings
• How many leading securities firms have completed their profit plans after nine months?

  Although all recorded declines in the third quarter of 2026, most securities firms remain on track with their full-year profit plans. SSI's nine-month standalone pre-tax profit rose 8% to 4,267 billion VND, while its estimated consolidated pre-tax profit of 4,510 billion VND represents 77% of its full-year target. TCBS's nine-month pre-tax profit reached 5,708 billion VND, up 13% and equal to 76% of its plan, while its margin lending and advances for securities sales rose 25% from the end of 2025. VPS posted nine-month pre-tax profit of 4,044 billion VND, up 27%, while VPBankS's third-quarter pre-tax profit fell 64% to nearly 843 billion VND as operating costs rose 2.8 times.

  CafeF·23/10, 01:10▲ SSI▲ VCI▲ VNDbrokeragesearningsSSI
• TCBS reports record Q3 2026 profit, pre-tax earnings top VND 2,100 billion

  TCBS reported a record Q3 2026 pre-tax profit of VND 2,152 billion, lifting nine-month pre-tax profit to VND 5,708 billion, up 13% year-on-year and 76% of its full-year plan. Margin lending and advances remained the main growth driver, with net income of VND 1,548 billion (up 55%) and outstanding balances of VND 54,740 billion as of 30/09/2026 (up 25% from end-2025). Brokerage, commission and custody income fell 39% to VND 64 billion, mainly because high interest rates weighed on fund certificate distribution. Investment banking income rose 45% to VND 740 billion, and customer accounts exceeded 1.3 million, up 14% year-on-year. Funding and bond distribution income was VND 1,155 billion, up 1%, with over VND 45.6 trillion of corporate bonds distributed, up 144%.

  CafeF·19/10, 01:00▲ TCXTCXearningsbonds
• Brokerage market-share leader cuts nearly 300 staff in a quarter

  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.

  VnExpress·27/10, 03:11brokeragesmargin lendingearnings
• TCBS Offers VND 1,500 Billion in Bonds to the Public

  TCBS (HoSE: TCX) is offering 15 million non-convertible, unsecured bonds in its third issuance round, worth VND 1,500 billion in total with a 24-month term. Subscriptions run from October 15, 2026 to November 4, 2026, with the expected issue date on November 4, 2026. The first coupon is a fixed 8% per year, and later coupons are floating at 2.7% per year plus a reference rate. Minimum orders are 10 bonds (1 million VND) for individuals and 50,000 bonds (5 billion VND) for institutions. Proceeds will fund margin lending, advances on securities sale proceeds and proprietary trading, following earlier rounds that each raised VND 1,000 billion.

  CafeF·14/10, 11:45▲ TCXTCXbondsbrokerages

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  Yahoo Finance·02/11, 17:49▲ NVDAsemiconductorsearningsAMD
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  Yahoo Finance·02/11, 17:47▲ AMZNAMZNcloud computingearnings
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  Yahoo Finance·02/11, 17:47earningsbankstech stocks
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  Yahoo Finance·02/11, 17:45▲ GOOGLGOOGLearningscloud computing