News about investment banking

HD Securities (HDS) reported pre-tax profit of VND 2,241 billion for the first nine months of 2026, up 3.7 times year-on-year and 1.7 times its full-year 2025 profit of VND 1,314 billion. Nine-month after-tax profit reached VND 1,804 billion, and Q3 revenue was VND 1,130 billion, nearly three times the year-earlier level. Investment banking was a key growth driver, with underwriting and issuing-agency revenue of VND 982 billion, up 9.8 times year-on-year, while investment and funding income was the largest source at 48.9% of nine-month revenue. Charter capital rose from VND 1,461 billion to VND 10,961 billion, and equity grew about fourfold since the start of the year. The company said 87% of nine-month pre-tax profit was realized, with annualized ROE of 27.5%.

Zacks' analyst blog reports Goldman Sachs delivered strong third-quarter 2026 results, with EPS up 39% year on year to $17.01, beating the Zacks Consensus Estimate by 31.9%. Net revenues rose 23% to $18.68 billion, driven by a 72% jump in equities trading revenue and a 21% rise in investment banking fees, while annualized return on equity improved to 18.7% from 14.2%. The article flags elevated operating expenses, subdued fixed-income trading and capital markets uncertainty as concerns. Goldman trades at a forward P/E of 12.53X, just below the industry average of 12.60X, compared with 13.26X for JPMorgan and 14.36X for Morgan Stanley. Its investment banking fees rose 40% to $9.46 billion in the first nine months of 2026.