Vietnam brokerages report mixed third-quarter earnings
MB Securities posted a profit decline, HVS Vietnam recorded growth and BIS remained loss-making despite higher revenue.
Vietnam’s securities firms have reported contrasting results for the third quarter of 2026. MB Securities Corporation said its after-tax profit fell 5 per cent from a year earlier to approximately US$12.6 million, while HVS Vietnam Securities Corporation increased its profit and BIS Securities Corporation narrowed its loss.
MB Securities reported a 65 per cent drop in brokerage revenue to US$5.1 million. Gains on financial assets measured at fair value through profit or loss rose 146 per cent, but losses on those assets reached US$19.2 million, leaving the activity’s overall performance weaker than a year earlier.
HVS Vietnam’s after-tax profit reached US$84,000, or 3.6 times its year-earlier result. Operating revenue increased 77 per cent to US$204,000, chiefly from interest on held-to-maturity investments. Those investments consisted entirely of deposit contracts running for more than three months.
BIS recorded quarterly revenue of US$636,000, up 423 per cent, including US$424,000 from financial advisory services. Its gains on financial assets measured at fair value through profit or loss increased 19.5-fold to US$156,000. Revenue remained insufficient to cover expenses, leaving an after-tax loss of about US$60,000, compared with a US$292,000 loss a year earlier.
Analysts at VPBank Securities expect sector earnings to decline against the high comparison base of the third quarter of 2025. Vietcombank Securities also forecasts weaker results for most brokerages, citing a year-on-year fall of around 55-60 per cent in average daily market liquidity.
