For brokerage activities, Vietcap generated nearly VND 373 billion in revenue, doubling the figure from the same period last year, thereby boosting profits by 9.7 times to VND 136 billion.
According to Vietcap, in Q3/2025, the stock market showed positive developments, with liquidity surging and the VN-Index reaching new highs, closing at 1,661.7 points on September 30, 2025. With favorable market conditions, Vietcap’s brokerage market share grew to 6.43%, ranking fourth on the HOSE. In institutional trading, the company maintained its lead with over 30% market share, contributing to increased brokerage revenue.
Another positive activity was lending, with a 52% growth in revenue, reaching nearly VND 314 billion.
Regarding proprietary trading, Vietcap reported realizing profits from certain investments, leading to a 25% increase in revenue from the sale of financial assets at fair value through profit or loss (FVTPL). However, the company’s financial statements also showed a 63% rise in FVTPL financial asset losses, causing a 7% decline in proprietary trading profits to nearly VND 251 billion.
Overall, the company’s net profit exceeded VND 420 billion, up 95% year-on-year, bringing the nine-month total to nearly VND 900 billion, a 30% increase.
In 2025, Vietcap aims for VND 1.42 trillion in pre-tax profit. With nearly VND 1.1 trillion achieved in the first nine months, the company has completed 76% of its annual target.
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Vietcap’s Q3 and 9-month 2025 business results
Unit: Billion VND
Source: VietstockFinance
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By the end of Q3/2025, Vietcap’s total assets reached over VND 29.7 trillion, a 12% increase from the beginning of the year. The two largest asset categories both grew: loans increased from VND 11.2 trillion to VND 13.9 trillion, primarily margin loans; and available-for-sale financial assets (AFS) rose from VND 8.4 trillion to VND 11.5 trillion, mainly comprising listed securities (KDH, IDP, MBB, FPT, TDM, STB…), other listed and unlisted AFS securities, and listed bonds.
Compared to the end of Q2, the cost basis of investments in KDH increased from VND 536 billion to VND 635 billion; FPT rose from VND 255 billion to VND 570 billion, a 2.2-fold increase; while MBB decreased from VND 180 billion to VND 165 billion.
In contrast to loan and AFS growth, another significant asset category, cash and cash equivalents, declined from VND 4.7 trillion to VND 2.6 trillion.
Additionally, the FVTPL financial asset portfolio decreased from over VND 846 billion to over VND 599 billion, primarily unlisted bonds and listed equities. The company also held VND 300 billion in held-to-maturity investments (HTM), all term deposits, down from VND 598 billion at the beginning of the year.
On the funding side, short-term borrowing surged from nearly VND 12.6 trillion to nearly VND 15.9 trillion, accounting for 54% of total funding. The company primarily borrowed from domestic banks. These short-term loans, with interest rates ranging from 3.5% to 7% per annum, were used to supplement working capital.
– 22:16 16/10/2025
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