DNSE Q1 2026: Operating Revenue Up 62% to Over VND 395 Billion; Margin Lending and Pre-Sales Financing Rise 38%

Q1 2026, DNSE Securities posted operating revenue of more than VND 395 billion, up 62% year over year. Margin lending and pre-sales financing outstanding rose to VND 5,910 billion, up 38% from the same period last year. According to the Q1 2026 financial report, DNSE's operating revenue reached over VND 395 billion, up 62% YoY; pre-tax profit was nearly VND 14.2 billion, and net profit after tax was about VND 11.3 billion, signaling growth in the business scale, even though the stock market in the quarter showed sharp adjustments following a period of rapid gains and limited liquidity improvement. Specifically, earnings from lending and receivables reached VND 147.5 billion, up more than 42% YoY, continuing to be the main income source. Revenue from securities brokerage activities reached VND 119.5 billion, up 144%, reflecting a positive expansion of market share. In addition, interest income from investments held to maturity reached VND 98.4 billion, up about 40%, contributing stably to the revenue mix. Corresponding to the growth in lending revenue, the outstanding margin lending and pre-sales financing reached VND 5,910 billion, up 38% YoY. On costs, DNSE recorded total operating expenses of VND 299 billion, up 120% YoY. Of which, the increase mainly from brokerage services – VND 137.8 billion, up 125%, in line with expanded operations and increased trading volumes. Provisions for proprietary trading activities recorded VND 17 billion, up 405%, reflecting the impact of short-term market price fluctuations on DNSE's proprietary portfolio. In terms of assets, as of the end of Q1, DNSE's total assets stood at VND 15,559 billion, up 3% from the beginning of the year. Overall, DNSE maintained growth momentum in its core business areas such as brokerage and lending. However, revaluations of the investment portfolio together with rising capital costs and provisions increased have affected near-term profits. CONTINUED TO STRENGTHEN TOP 2 MARKET SHARE IN DERIVATIVES; REGULAR TRADERS INCREASING 41% Alongside revenue growth, DNSE continued to record strong growth in market share, particularly in derivatives trading. According to data from HNX, DNSE's derivatives brokerage market share reached 25.5% in Q1 2026, maintaining its Top 2 position and narrowing the gap with the leading player to about 8 percentage points. Notably, this is the ninth consecutive quarter that DNSE has grown its derivatives market share, underscoring the effectiveness of its technology and trading experience strategy. DNSE currently manages 1.65 million client accounts. In Q1 2026, DNSE opened 142,000 new accounts, accounting for 18% of market's new account share. Notably, the number of active users rose 41% year on year. According to comments by the Chairman of the Board Nguyen Hoang Giang at the 2026 annual general meeting, the growth in derivatives market share is a clear measure of technology capability and product effectiveness, as DNSE ascended to the Top 2 market position within a few years from almost zero. On that basis, DNSE plans to leverage technology to gradually shift the client base from derivatives to the cash market, thereby expanding its market share in this segment. In 2026, DNSE set a plan for total revenue of VND 1,736 billion and pre-tax profit of VND 550 billion, corresponding to roughly 18% and more than 60% growth respectively over the previous year. To realize this target, the company plans to continue expanding margin lending, push brokerage activities, and develop technology-driven trading products, APIs, and AI, to anticipate the faster and more flexible day trading trend of active customers. Most recently, DNSE launched the Strategy Testing product, enabling investors to build and validate strategies based on market data up to 10 years. The product integrates multiple data layers such as technical indicators, cash flow, and corporate financial indicators to optimize strategies and reduce noisy signals. Note that the entire validation process is automated, requiring no programming knowledge, helping investors reduce testing time and improve decision-making accuracy. Tech-enabled products, aligned with the behavior and needs of the next generation of investors, are expected to help DNSE capture rising demand from active traders and expand its market share in the near term.