TCBS Targets Record 2026 Pre-Tax Profit of VND 7,535B, Plans 20% Stock Dividend

Overview

TCBS, the securities arm of Techcombank (TCB), has set a record pre-tax profit target of VND 7,535 billion for 2026, up 18% year-on-year, and plans a 20% stock dividend. The targets were approved at the annual general meeting on April 25, 2026, as the company leverages Vietnam’s expected market upgrade and expands into new products.

Key Facts

• TCBS targets 2026 pre-tax profit of VND 7,535 billion, up 18% YoY (excluding one-time income in Q4/2025).
• 2026 revenue target is VND 13,227 billion, representing 26% growth.
• A 20% stock dividend is planned for 2026.
• The AGM had 91% shareholder attendance, representing 2.1 billion shares.
• TCBS listed on HOSE in October 2025.
• The company plans to expand bond issuance, zero-fee brokerage, and new products like tokenized assets and structured products.
• Vietnam’s stock market is expected to be upgraded in September 2026, supporting growth.

What Happened

At its 2026 annual general meeting held in Hà Nội on April 25, 2026, TCBS shareholders approved the business plan targeting record revenue and profit. The company aims to strengthen sustainable growth by expanding bond issuance and distribution, capitalizing on the central bank’s cautious credit policy. TCBS will maintain its zero-fee brokerage policy and competitive margin lending rates while managing risk.

For new business lines, TCBS is developing a diversified financial ecosystem including fund certificates (Fundmart), smart investment strategies (iTracker), covered warrants (CW), and tokenized assets once regulations permit. The company also plans to expand its institutional client base.

Market Context

TCB shares closed at VND 32,000 on April 15, 2026, down 0.16% with volume of 11.5 million shares. The securities sector is poised to benefit from Vietnam’s expected market upgrade to emerging market status in September 2026, which could attract foreign capital. TCBS’s focus on bond market intermediation aligns with regulatory trends favoring corporate bond issuance as a funding alternative.

Strategic Significance

TCBS’s targets reflect a strategy to diversify revenue beyond traditional brokerage and margin lending. By emphasizing bond distribution and new products like tokenized assets, the company positions itself for a post-upgrade market environment. The 20% stock dividend signals confidence in future earnings while preserving cash for growth. However, execution depends on regulatory developments and market conditions.

What to Watch

• Q2 2026 earnings report to gauge progress toward targets.
• Regulatory updates on tokenized assets and structured products.
• Vietnam’s market upgrade status ahead of September 2026.
• TCBS’s market share in bond distribution and brokerage.
• Any changes in zero-fee policy or margin lending rates.