TCBS posts Q1 2026 pretax profit of VND 1.458 trillion

Revenue reached VND 2,783 billion in Q1 2026, up 37% year-over-year, reflecting a growth platform amid a macro environment with significant volatility. Pretax profit rose to VND 1.458 trillion, up 11% year-over-year, aligning with TCBS’s 2026 business plan.

Profitability and capital efficiency

TCBS maintained its position as a leading securities company by shareholders’ equity and reported efficient capital use, with ROE at 15.4%, ROA at 7.8%, and CIR at 14.8%—among the lowest in the industry, reflecting technology-driven operational optimization.

Market positions across core businesses

In core segments, TCBS continued to strengthen its leading positions:

• Market leader in corporate bond issuance with an 86% share (excluding bank bonds).
• Top 3 on HOSE with 8.9% market share in stock brokerage.
• Top 2 on HNX with 9.5% market share.

Margin lending and pre-financing of sold positions remained among the market leaders, with outstanding balances exceeding VND 44.7 trillion. The bond and mutual fund distribution businesses also stayed competitive, supported by Techcombank’s financial-insurance-bank ecosystem.

Digital assets and AI transformation

In digital asset trading, Techcom Asset Exchange (TCEX)—founded by TCBS, with TCBS as founder and contributing capital as one of seven early applicants for licensing—was among five applications deemed valid by the Ministry of Finance to provide a market organization for digital assets under Government Resolution 05/2025.

On technology and AI transformation, TCBS said it made a significant shift toward an AI Agentic model and expanded an internal AI ecosystem to automate operations and improve long-term competitiveness.

Q1 2026 business results by segment

Margin lending and pre-financing

• Income: VND 1,211 billion in Q1 2026, up 69% year-over-year.
• Contribution: 52% of total net income.
• Margin lending balance: over VND 44.7 trillion.
• Loan-to-equity ratio: 98%, well below the 200% regulatory cap.
• Customer pricing: a 7.89% per year interest-rate package for initial drawdowns to expand the customer base in a high-rate environment.

Brokerage and custody

• Income: VND 85 billion, up 17% year-over-year.
• TCBS continued infrastructure upgrades under a Zero-fee policy, including features for institutional clients such as order placement via Bloomberg, conditional negotiated trades (DarkPool), and algorithmic orders using TWAP & Iceberg strategies.
• TCBS cited expectations of foreign inflows as the market is upgraded to FTSE Secondary Emerging Market in September 2026.

Fund distribution platform

• Fundmart expanded its product catalog to 31 funds from reputable managers.
• Coverage: 55% of NAV of domestic open-end funds.
• Distribution value: nearly VND 3.3 trillion during the period.
• Investor engagement: an average of 12,000 monthly investor visits, up 33% year-over-year.
• March: more than 15,000 clients trading, the highest ever.

Investment banking

• Net revenue: VND 526 billion, up 27% year-over-year.
• Corporate bond issuances: about VND 28 trillion in the quarter, representing 86% market share (excluding bank bonds).

Capital markets and bond distribution

• Net income: VND 527 billion, down 24% year-over-year, mainly due to the impact of high interest rates.
• Outlook: TCBS expects improvement in subsequent quarters as it begins distributing newly issued bonds in Q1 2026 with more competitive yields.
• Corporate bond distribution: nearly VND 18.6 trillion, up 3% year-over-year.

Online secondary bond trading system

• iConnect trading value in Q1: nearly VND 3.4 trillion, up 23% year-over-year.
• Infrastructure milestone: TCBS was the first securities company to pass HNX’s evaluation to connect online to HNX’s private corporate bond trading system, replacing manual order entry.
• Operational impact: processing time was shortened substantially, with capacity to handle thousands of orders per minute.

Financial position and funding

As of March 31, 2026, TCBS reported total assets of VND 88,665 billion and equity of VND 45,466 billion, up 10% and 3% respectively. Financial safety indicators remained within prudent levels, with a debt-to-equity ratio of 0.89x and a loan-to-equity ratio of 98%.

TCBS also continued to diversify cooperation with international financial institutions to strengthen liquidity and resilience. In Q1 2026, it signed a long-term USD 50 million loan with DEG (the development finance institution under KfW). In April 2026, TCBS set a record with a syndicated loan of USD 488 million—the highest ever for a Vietnamese securities company—and marked the third consecutive year it set a fundraising record on international capital markets.

WealthTech and security metrics

In Q1 2026, TCBS reported strong growth in customer numbers and platform engagement, with more than 53,700 new accounts opened (up 124% year-over-year). The company cited strong security and governance metrics, including a Microsoft Secure Score of 83.92/100 and AWS Foundation Security Best Practices of 84/100.

TCBS also highlighted an AI-first culture, including 4-language AI-enabled services on TCInvest to enhance transparency and accessibility for foreign investors. Its internal AI ecosystem (AI Studio) expanded with OCR Suite (digitizing data), Image Generation (content creation), Guardrail (protecting sensitive data), and Tool Hub (process automation). TCBS said it deployed Kiro IDE for 100% of technology staff as part of its move toward the AI Agentic model.

Outlook for Q2 2026

For Q2 2026, TCBS aims to become an AI-native company, operating with lean teams and gradually institutionalizing the AI Agentic model across the system.

Recognition

TCBS said its technology and operational innovations were recognized by The Asset magazine, including awards for Best AI project in financial technology in Vietnam, Best IPO deal in Vietnam, and Best co-financing deal in the securities sector.