Oct 27, 2026
Full Analysis
Positive
leadership change
HD Securities (HDS) has elected Philipp Roesler, Germany's former Deputy Chancellor and ex-managing director of the World Economic Forum, as Vice Chairman of the board for 2025-2030. The appointment places a figure with senior government and international advisory experience inside a small Vietnamese brokerage, though the filing discloses no specific strategic mandate or capital commitment tied to the role.
Oct 26, 2026
Full Analysis
Positive
leadership change
HD Securities (HDS) appointed former German Deputy Chancellor Philipp Roesler as Vice Chairman of its board, effective 23 October, as the HDBank-controlled broker prepares a VND 1,492B IPO and HoSE listing. Roesler, who also sits on Vietjet's board, was elected independent director by written shareholder ballot on 20 October.
Oct 26, 2026
Full Analysis
Neutral
leadership change
Former German Deputy Chancellor Philipp Rösler was appointed Vice Chairman of HD Securities (HDS) from 23 October for the remainder of the 2025-2030 term. HDS, 90% owned by HDBank, reported nine-month pre-tax profit of VND 2,241B, 3.7x year-on-year, and plans to list on HOSE this quarter.
Oct 26, 2026
Full Analysis
Positive
leadership change
HD Securities (HDS) elected former German Vice Chancellor Philipp Roesler as Vice Chairman from 23 October 2026 and confirmed a Q4/2026 IPO of 121.79 million shares, 11.11% of shares outstanding, at a minimum VND 12,252 each. Q3 pre-tax profit reached VND 769 billion, more than tripling year-on-year, with SSI and HSC named IPO distribution agents.
Oct 22, 2026
Full Analysis
Positive
earnings beat smallcap
HD Securities (HDS) reported 9M 2026 pre-tax profit of VND 2,241B, 3.7x year-on-year and already 1.7x the full-year 2025 result, with 87% of earnings realized. Investment banking revenue rose 9.8x as bond underwriting scaled, though the company has met only 66% of its 2026 profit plan.
Oct 20, 2026
Full Analysis
Mixed
earnings beat
Vietcap (VCI) reported Q3 2026 pre-tax profit of roughly VND 427B, down about 18% year on year, though nine-month profit of VND 1,101B edged above 2025. The quarter's standout was HD Securities (HDS) at VND 769B, up 208%, while market leader VPS slipped 20% to VND 1,119B.
Sep 25, 2026
Full Analysis
Negative
sector sentiment
VISRating flags 14 of 27 Vietnamese securities firms as at risk of missing 2026 profit plans after industry ROAA fell from 5.6% in 2025 to 4.3% in H1 2026. VIX is the worst hit, with cumulative ROAA down nearly 18% and equity investment income falling about VND 300B, while VND, SSI, FTS and VCK have met only 51-74% of full-year targets.
Jul 24, 2026
Full Analysis
Positive
earnings beat
HDS posted Q2/2026 pre-tax profit of VND 1,118 billion, nearly quadruple the prior year, as revenue surged 171% and costs fell 15%. The result cements HDS's position as the industry's ROE leader and reflects strong underwriting and FVTPL gains.
Jul 24, 2026
Full Analysis
Positive
earnings beat
HD Securities (HDS) posted Q2/2026 pre-tax profit of VND 1,118 billion, nearly quadruple the VND 284 billion in Q2/2025, driven by a 171% revenue surge and a 15% cost decline. The result marks the highest quarterly profit in the company's history and cements its position among the top securities firms by ROE.
Jul 09, 2026
CafeF - Thị trường chứng khoán
Neutral
general news
May 27, 2026
Full Analysis
Negative
regulation change
HD Securities (HDS) faces a one-week suspension from private bond trading and settlement starting May 28, 2026, after 24 failed transactions in April 2026. The suspension comes shortly after HDBank (HDB) raised its ownership in HDS to 90%, consolidating it as a subsidiary.
May 25, 2026
Full Analysis
Positive
stake change
HDBank (HDB) has increased its stake in HD Securities (HDS) from 75.74% to 90%, making HDS a consolidated subsidiary effective Q2/2026. HDS concurrently completed a 2:1 stock dividend and a VND 8,768.5B rights offering, boosting charter capital to VND 10,961B ahead of a planned IPO of 164.4 million shares in H2 2026.
May 10, 2026
Full Analysis
Positive
stake change
ACB sees the Au Lac group increase its combined stake to 6% after a VND 192B purchase by Nguyen Thien Huong Jenny. Separately, HDBank spent over VND 8,500B to raise its ownership in HD Securities (HDS) to 90%, gaining controlling power and positioning HDS for an IPO.
May 04, 2026
Full Analysis
Positive
earnings beat smallcap
ORS (Chứng khoán Tiên Phong) reports Q1 2026 pretax profit of VND 42 billion, a 1,961% surge from VND 2 billion a year ago, driven by revenue of VND 270 billion and a 71% cost reduction. Nine other small-cap securities firms also posted triple-digit profit growth, though most started from a low base, limiting absolute scale.
Apr 24, 2026
Full Analysis
Neutral
leadership change
HDS appoints former VPBankS Chairman Vu Huu Dien as its new Chairman effective April 23, 2026, as the company prepares for an IPO of 164.4 million shares. HDS targets 2026 pre-tax profit of VND 3,375 billion, more than double 2025 results, and plans to establish a securities subsidiary at the International Financial Center.