In 2023,
the State Bank adjusted down the operating interest rates and the savings mobilization interest rates of the market to a “bottom”. There are banks with term deposits of 12 months with interest rates below 5% per annum. At the output, lending rates, especially in the short term, are also adjusted.
In this context, despite the delay, securities companies also started to reduce margin interest rates. Techcombank Securities (TCBS) is applying a range of preferential policies to new investors, including: Free selection of beautiful securities account numbers, free stock trading. The margin lending interest rate is 7.9% per year with a margin balance within 180 days from the first disbursement.
Shinhan Vietnam Securities applies a margin lending rate of 8.8% per year. The preferential margin interest rate applies within 6 months from 1 day (T+1) with a margin debt of VND 200 million within the program period. The program lasts until April 30th or when the limit expires.
JB Vietnam Securities (JBSV) applies a zero-margin interest policy for customers for 30 days with a maximum loan amount of VND 100 million. Yuanta Vietnam Securities also applies a 0% interest rate for 1,000 new customers who open clearing accounts and make their first registration.
Prior to this, Yuanta Vietnam Securities had a preferential margin interest rate of 8% per year, applicable within 6 months with no borrowing limit…
Margin lending interest rates at securities companies are tending to decrease.
Signals of reduced margin interest rates are also appearing in many other securities companies such as DNSE, Rồng Việt (VDSC), Vietcap. Companies in the banking ecosystem such as MBS also adjusted down the usual margin interest rates for individual customers. SSI refunds 20% of the actual interest earned per month, up to VND 5 million per month and VND 50 million per year.
The financial report season of Q4/2023 just ended showed notable data from securities companies. Margin loan balances continue to increase, despite domestic securities declining in the final months of the year and low liquidity.
Statistics from a financial specialist website based on the Q4 financial report showed that the lending balances at securities companies at the end of Q4 were estimated to be around VND 180,000 billion, an increase of about VND 15,000 billion compared to the end of Q4. Among them, margin debt was estimated at around VND 172,000 billion, an increase of VND 13,000 billion in the last three months of the year.
TCBS leads with the margin lending balance increasing nearly VND 3,800 billion in the last quarter of the previous year, bringing the total margin lending balance to VND 16,260 billion. Within 1 year, this lending balance of TCBS has increased by 80%. Notably, this strong upward trend occurred after TCBS received additional capital from its parent bank Techcombank in Q2/2023.
SSI Securities ranks second, with a margin lending balance of VND 14,670 billion at the end of 2023. In Q4, SSI dropped to second place, after being surpassed by its competitor TCBS. Mirae Asset Securities, HSC, VPS… followed suit.
