Enterprise

TCBS Reports Significant Profits in First Nine Months, Achieving 88% of Annual Plan

Technological Commercial Joint Stock Bank Securities (TCBS, HOSE: TCX) has released its Q3/2025 financial report, revealing a remarkable net profit of nearly VND 1.62 trillion, an 85% surge compared to the same period last year. This impressive performance has propelled the company's nine-month cumulative profit to over VND 4.05 trillion, marking a 31% year-on-year growth. TCBS's core operations, including proprietary trading, brokerage, and lending, have all demonstrated robust growth, solidifying its position as a leading player in the industry.

Administrator

14 October, 2025

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TCBS’s proprietary trading activities generated over VND 1.022 trillion in profit during Q3, a 2.2-fold increase year-over-year. This surge was primarily driven by significant gains from the sale of financial assets measured at fair value through profit or loss (FVTPL), particularly in listed equities and unlisted bonds.

Another notable performance came from brokerage services, which contributed more than VND 176 billion in profit, a 2.3-fold increase compared to the same period last year. The lending segment also saw robust growth, recording nearly VND 1.015 trillion in revenue, a 44% year-over-year increase.

Some pressure emerged as financial activities incurred a loss of over VND 566 billion, higher than the nearly VND 472 billion loss in the same period last year, mainly due to increased interest expenses and a 25% rise in management costs to nearly VND 171 billion.

Ultimately, TCBS reported pre-tax and post-tax profits of over VND 2.024 trillion and nearly VND 1.620 trillion, respectively, marking an 85% year-over-year increase. This result also boosted the cumulative profit for the first nine months to over VND 5.067 trillion before tax and more than VND 4.050 trillion after tax, a 31% increase year-over-year.

For 2025, TCBS aims for a pre-tax profit of VND 5.765 trillion, a 20% increase compared to 2024. Thus, after the first nine months, the company has achieved 88% of its full-year profit target.

TCBS’s Q3 and 9-month 2025 business results

Unit: Billion VND

Source: VietstockFinance

By the end of Q3/2025, TCBS’s total assets reached nearly VND 81.773 trillion, a 54% increase since the beginning of the year. The largest components were loans, totaling nearly VND 41.713 trillion (up 61%), and available-for-sale financial assets (AFS) of nearly VND 27.079 trillion (up 53%), primarily consisting of bonds, certificates of deposit, and unlisted equities.

Cash and cash equivalents also saw a significant increase, rising from nearly VND 2.865 trillion to almost VND 5.292 trillion, an 85% increase.

On the funding side, TCBS had short-term borrowings of nearly VND 30.375 trillion, with notable loans from VPBank (VND 4,000 billion), MSB (VND 2,500 billion), and VIB (VND 2,975 billion). The company also had a syndicated USD loan (with Cathay United Bank as the agent), with a converted outstanding balance of nearly VND 5.870 trillion at the end of Q3.

Shareholders’ equity increased significantly from over VND 19.613 trillion to more than VND 23.113 trillion. The company executed two notable capital increases in the first nine months, including a private placement of over 118.8 million shares and a high-profile initial public offering (IPO) of 231.15 million shares.

Post-IPO, the ownership structure includes two major shareholders: the parent bank Techcombank with 79.82% and Chairman Nguyễn Xuân Minh with 5.34%. The structure also includes 89 foreign shareholders holding a combined 6.38% of the capital.

Following the IPO, over 2.31 billion TCBS shares are expected to officially list on HOSE from October 21st, with a reference price of VND 46,800 per share.

Huy Khải

– 16:05 13/10/2025