According to statistics at 40 large-scale securities companies, total profit in the first quarter of 2026 reached about 7,500 billion VND, an increase of about 21% compared to the same period in 2025 but a decrease of 22% compared to the fourth quarter of the previous year. This is also the lowest level in the last 4 quarters of the securities company group.
The bright color belongs to securities companies (CTCK) in the top of market share. SSI Securities Company recorded a consolidated pre-tax profit of VND 1,593 billion, up 33% over the same period, and rose to the number one position in the whole industry. VPS ranked right behind with VND 1,547 billion in pre-tax profit, up sharply 68% over the same period. This is also one of the few companies that recorded continued quarterly profit growth, with an increase of about 21% compared to Q4/2025.
Conversely, TCBS no longer maintains the champion position it held for many previous quarters. After setting a record of more than VND 2,041 billion in profit in the fourth quarter of 2025, this enterprise recorded VND 1,458 billion in pre-tax profit in the first quarter of 2026, down 28% compared to the previous quarter but still 11% higher than the same period in 2025.
The differentiation is shown in the fact that more than 20 companies reported losses mainly due to proprietary trading. Many securities companies still maintained losses over periods.
For example, CVS Securities Company has announced its financial statements (FS) for the first quarter of 2026 with a pre-tax loss report in the first quarter of 2026 and recorded the 15th consecutive quarter of losses. Accumulated losses as of the end of the first quarter of 2026 are nearly 150 billion VND.
Apec Securities Company continued to lose 38 billion VND, extending the loss streak from the same period last year (loss of 31 billion VND). Some small-scale securities companies such as Viet Securities, Eurocapital, Ky Nguyen Moi or Japan Securities recorded not large losses, but have not yet escaped the negative profit state.
Many other securities companies had heavy losses even though they were still profitable in the same period last year. For example, EVS Securities Company recorded the largest loss of 197 billion VND, while in the same period last year it still had a profit of 18 billion VND. This is also the heaviest loss in the securities industry.
Some other companies also recorded similar trends such as T-Cap Securities Company reporting a loss of 20 billion VND, completely contrary to the profit figure of 33 billion VND in the same period, BIS Securities Company losing 7 billion VND, Finhay Securities Company losing 6 billion VND,...
Most businesses explain losses due to the impact of proprietary trading. In the context of fierce competition for brokerage fees and margin lending, many securities companies promote proprietary trading to improve ROE efficiency. However, when the market fluctuates, especially under the impact of geopolitical factors such as the war in the Middle East, the investment portfolio is easily affected, forcing businesses to make provisions, dragging profits down.
In the coming time, with the market preparing to welcome abundant capital from officially being upgraded, many leading securities companies still expect to do business smoothly and achieve record profits.
For example, at the recent general meeting season, TCBS Securities Company set a target of total revenue of 13, 227 billion VND and pre-tax profit of 7,535 billion VND, respectively an increase of 17% and 6% compared to the performance in 2025. If this plan is completed, TCBS will record the third consecutive year of setting a new record in revenue and profit.
VPBankS Securities Company sets a revenue target for 2026 at 11,074 billion VND, an increase of 39% compared to the previous year; pre-tax profit of 6,453 billion VND, an increase of 44%.
SSI Securities Company has approved a consolidated revenue plan of 15,660 billion VND and pre-tax profit of 5,838 billion VND. Compared to the performance results in 2025, the target revenue increased by 21% and profit increased by 15%. If the plan is completed, this will be SSI's highest profit level since operation.
