Agriseco (AGR) Dismisses CEO Le Son Tung, Appoints Deputy CEO; Q1 Net Profit Up 33.9%

Overview

Agriseco (AGR), the securities arm of Agribank, has dismissed CEO Le Son Tung effective April 24, 2026, and appointed Nguyen Hoang Tung as Deputy CEO. The leadership change follows the company’s Q1/2026 net profit of 43.5 billion VND, up 33.9% year-on-year.

Key Facts

• AGR dismissed CEO Le Son Tung effective April 24, 2026, based on his resignation request.
• Nguyen Hoang Tung, former Director of the Southern Branch, was appointed Deputy CEO for a 5-year term starting April 1, 2026.
• Q1/2026 net profit reached 43.5 billion VND, up 33.9% year-on-year.
• Q1/2026 total revenue and other income was nearly 145.4 billion VND, up 38.3% YoY.
• Total costs and other expenses in Q1/2026 were over 90.8 billion VND, up 94.2% YoY.
• AGR was founded in 2000 and is one of Vietnam’s earliest securities companies, with Agribank as the founding shareholder.
• The company’s sales and service network spans over 220 points across Vietnam.

What Happened

Agriseco (AGR) announced the dismissal of CEO Le Son Tung effective April 24, 2026, following his resignation request. The company also appointed Nguyen Hoang Tung, previously Director of the Southern Branch, as Deputy CEO, effective April 1, 2026, for a five-year term. The changes were disclosed in a filing to the State Securities Commission, Vietnam Stock Exchange, and Ho Chi Minh City Stock Exchange (HoSE).

In Q1/2026, AGR reported total revenue and other income of nearly 145.4 billion VND, up 38.3% year-on-year, while total costs surged 94.2% to over 90.8 billion VND. Net profit after tax reached 43.5 billion VND, a 33.9% increase from the same period last year.

Market Context

AGR is listed on HoSE and operates in the securities sector, with a strong network of over 220 service points. The stock has been influenced by brokerage and proprietary trading performance. The Q1 earnings growth of 33.9% reflects improved market conditions, though cost growth outpaced revenue, indicating margin pressure.

Strategic Significance

The leadership change at AGR comes amid a period of solid earnings growth. The appointment of a Deputy CEO with regional branch experience suggests a focus on expanding retail brokerage and southern market penetration. The resignation of the CEO may signal a strategic shift or internal restructuring, but the company has not disclosed further details. Investors should monitor whether the new leadership maintains or alters the current growth trajectory.

What to Watch

• Official appointment of a new CEO or acting CEO.
• Q2/2026 earnings release to assess cost control and margin trends.
• Any strategic announcements regarding branch expansion or new products.
• Changes in market share in brokerage or proprietary trading.
• Regulatory filings regarding the CEO succession plan.