Vietnamese Securities Firms Post Strong Q2 2026 Profits; VPS Leads with 57% Jump
This Aveluro analysis covers VCK on HOSE in the Financial Services sector. The classified event type is earnings beat, with positive sentiment and a deterministic market-impact score of 7.0/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from CafeF - Thị trường chứng khoán, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Several Vietnamese securities companies reported strong profit growth for Q2 2026, with VPS (VCK) leading at a 57% year-on-year increase in pretax profit to VND 1,378 billion. BIDV Securities (BSI), KB Vietnam Securities (KBSV), and VTG (VTG) also posted gains, while SmartInvest (AAS) and VSC (VSC) recorded declines. The results come as 40 firms in the sector have released their Q2 financial statements.
Key Facts
- VPS (VCK) reported Q2 2026 pretax profit of VND 1,378 billion, up 57% YoY. H1 2026 pretax profit reached VND 2,925 billion (+63% YoY).
- BIDV Securities (BSI) posted Q2 pretax profit of VND 146 billion (+15% YoY); H1 pretax profit of VND 263 billion (+16% YoY).
- KB Vietnam Securities (KBSV) recorded Q2 pretax profit of VND 72 billion (+12% YoY); H1 pretax profit of VND 143 billion (+16% YoY).
- VTG (VTG) swung to a Q2 pretax profit of VND 52 billion from a loss of VND 10 billion a year earlier. H1 pretax profit was VND 102 billion, versus a loss of VND 20 billion in H1 2025.
- Yuanta Securities Vietnam reported Q2 pretax profit of VND 41 billion (+24% YoY); H1 pretax profit of VND 77 billion (+20% YoY).
- SmartInvest (AAS) saw Q2 pretax profit fall 68% YoY to VND 8 billion; H1 pretax profit dropped 67% to VND 20 billion.
- VSC (VSC) reported Q2 pretax profit of VND 1 billion (-33% YoY); H1 pretax profit of about VND 0.5 billion (-73% YoY).
What Happened
On July 20, 2026, a wave of Vietnamese securities companies released their Q2 2026 financial statements ahead of the regulatory deadline. According to the filings, VPS (VCK) continued to lead the pack with a 57% jump in pretax profit, maintaining its position among the top-tier brokers. BIDV Securities (BSI) and KB Vietnam Securities (KBSV) also reported steady double-digit growth, while VTG (VTG) staged a notable turnaround from losses to profitability.
In contrast, SmartInvest (AAS) and VSC (VSC) experienced sharp profit declines, with AAS citing a 68% drop in Q2 pretax profit and VSC reporting a 33% decline. The divergence highlights the uneven performance across the sector, with larger firms benefiting from higher trading volumes while smaller players struggled.
Market Context
VPS (VCK) closed at VND 31,250 on July 19, 2026, on HOSE. BSI closed at VND 32,050, while VTG closed at VND 4,400 (+10.00%) on July 12. The securities sector has seen increased trading activity in 2026, supporting profits for leading firms. However, the mixed results among smaller brokers suggest that market share concentration is intensifying, with top players capturing the bulk of revenue growth.
Strategic Significance
The strong Q2 results from VPS, BSI, and KBSV underscore the benefits of scale and diversified revenue streams in Vietnam’s securities industry. VPS’s continued profit growth reinforces its competitive position, while BSI and KBSV demonstrate stable earnings momentum. The turnaround at VTG shows that even smaller firms can recover with effective cost management. Conversely, the sharp declines at AAS and VSC highlight the risks for brokers with limited market share or higher exposure to proprietary trading losses.
What to Watch
- Full-year 2026 guidance updates from VPS, BSI, and KBSV in upcoming investor presentations.
- Q3 2026 trading volume trends on HOSE and HNX, which will impact brokerage fee income.
- Any regulatory changes affecting margin lending or securities business licenses.
- AAS and VSC’s strategic responses to reverse profit declines, including potential capital raises or M&A.
- Foreign ownership levels in leading securities firms, as foreign investors may increase exposure to the sector.