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Unlike the two established brokerages that reported earlier, BIS Securities Joint Stock Company’s Q1 2026 business results were not encouraging. The firm became the next brokerage to publish its Q1 2026 financial performance, but its revenue and profitability deteriorated compared with the same period last year.
In Q1 2026, BIS reported total operating revenue of nearly 3.7 billion VND, down 14.6% year-on-year. The decline was mainly attributed to held-to-maturity (HTM) investment income, which fell by about 30% to 3 billion VND.
While revenue narrowed, expenses rose sharply. Operating expenses in Q1 were more than 2 billion VND, and management expenses for the brokerage exceeded 8 billion VND. Together, total costs were nearly 11 billion VND, up 481% versus Q1 2025.
According to BIS, the main reason for the higher cost base was spending during the year on adding staff, technology infrastructure, asset purchases, equipment, and office renovations.
As a result, BIS recorded a pre-tax loss of about 7 billion VND in Q1 2026, compared with a profit of nearly 2.5 billion VND in the same period of the previous year. The report also marks the first loss for the brokerage sector in the Q1 2026 earnings season.
As of March 31, 2026, BIS’s total assets were 382 billion VND, down about 7 billion VND from the start of the year. HTM investments were 150 billion VND, all held in bank term deposits.
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