Many securities companies aim to increase profits strongly.

At the 2025 annual general meeting of shareholders (AGM), many securities companies made optimistic forecasts about the positive prospects of the stock market (TTCK).

DNSE Securities' Board of Directors believes that the Vietnamese stock market in 2025 will have many positive supporting factors such as the corporate bond market continuing to recover with the legal framework being completed through Decree 08 and Decree 65; stock market liquidity continuing to improve after increasing by 23% in 2024; and low interest rates attracting capital flows from savings to securities, reflected in margin debt reaching a peak of VND 180,000 billion.

In addition, there are other supporting factors such as GDP expected to continue to grow well, inflation expectations remain stable, monetary and fiscal policies continue to support growth, the possibility of being upgraded to emerging market status by FTSE Russell and the new trading system KRX coming into operation will support liquidity.

On that basis, DNSE Securities targets total revenue of VND 1,507 billion, equivalent to an increase of 82% compared to 2024. Net profit of VND 327 billion, an increase of 44%. If successfully realized, this will be the highest profit of DNSE Securities since its listing.

Another unit that has just successfully held its annual general meeting of shareholders is Nhat Viet Securities Corporation (VFS). In the report submitted to the General Meeting, the Board of Directors of VFS assessed many positive factors supporting the stock market in 2025 such as the forecasted economic recovery, promoting public investment, and deploying the KRX trading system. VFS expects the VN-Index to fluctuate within the range of 1,260 - 1,400 points in 2025. Cash flow will be more active, with an expected average trading volume of VND 18-20 trillion/session when the VN-Index surpasses the resistance level of 1,300 points.

2025 is still considered a favorable year for securities companies to set ambitious goals.

Shareholders approved the 2025 revenue plan of VND515.15 billion, an increase of 75% compared to the 2024 level. Pre-tax profit is planned at VND172.5 billion, equivalent to an increase of 10.5%. Sharing with shareholders, CEO Tran Anh Thang commented that this is a challenging target for the board of directors. In 2025, VFS will focus on brokerage revenue, margin lending and proprietary trading revenue.

In addition, a series of "top" securities companies with the largest brokerage market share on the HoSE (in 2024) have not yet held their annual general meetings of shareholders, but have revealed their 2025 business plans with positive growth figures.

VPS Securities Joint Stock Company - the leading enterprise in HoSE brokerage market share in 2024, sets a net revenue plan of VND 8,500 billion, an increase of 31% compared to 2024. In addition, pre-tax profit and after-tax profit are VND 3,500 billion and VND 2,800 billion, respectively, an increase of 11%.

Similarly, SSI Securities Corporation (HoSE: SSI) - ranked second in brokerage market share on HoSE, also attracted attention with a revenue plan of VND 9,695 billion and pre-tax profit of VND 4,252 billion, respectively increasing by 15% and 20% compared to 2024. This is a record profit plan for this company.

It is not difficult to point out a series of securities companies with a strong profit target in 2025 such as: Kafi Securities (pre-tax profit target of VND 800 billion, up 221.3% compared to 2024), Maybank Securities (plan of VND 422 billion, up 55.03%), MBS Securities (plan of VND 1,300 billion, up 39.7%), ACBS Securities (plan of VND 3,120 billion, up 59.39%)...

However, there are still a few securities companies that set a cautious target with profit growth (compared to 2024) below 10%. They are Agribank Securities JSC with a target of VND 181 billion in profit in 2025, an increase of 7.42%; Mirae Asset Securities (Vietnam) sets a profit plan of VND 910.5 billion, an increase of nearly 7%. In addition, Rong Viet Securities sets a target of VND 12 billion in profit, an increase of only approximately 1%.

In contrast, FPT Securities Joint Stock Company (HoSE: FTS) plans to have revenue from business and financial activities of VND1,000 billion, down 0.6% compared to 2024, and pre-tax profit of VND500 billion, down nearly 2.5%. Notably, this is FTS's lowest profit in the 2021-2024 period.

Up to now, the only unit that has set a loss target is BOS Securities JSC (UPCoM: ART). In the annual shareholders' meeting report, the company's Board of Directors assumed that with the successful private issuance of 10.8 million shares, the expected net revenue would be VND10.8 billion, resulting in a loss of nearly VND9.1 billion.

It can be seen that with the recovery of the stock market in the past quarter, all stocks of securities companies have performed positively with double-digit growth with FTS (+23.3%), VND (+24.29%), VCI (+19.05%), BSI (+22.53%), HCM (+11.56%)... while some codes such as DSE (+0.2%), VDS (-2.01%) have low growth or decrease compared to the beginning of the year.

Assessing the prospects of securities companies, SSI Research believes that 2025 is still considered a favorable year for securities companies to set ambitious goals.

Breaking down each business segment further, the unit estimates that income from securities brokerage fees will remain almost unchanged in 2025, in the context of increasing transaction value that will partly offset the downward trend in fees due to competition between companies.

In addition, the capital increase in 2024 and the 2025 plan will continue to support margin lending revenue, but growth will be difficult to break out in the context of volatile market conditions. In addition, net interest margin (NIM) may decrease due to competition and fluctuations in the interest rate environment.

Notably, the investment banking segment is expected to gradually recover thanks to a number of ongoing IPOs and the bond underwriting segment may be positive when the bond market recovers. As for the proprietary trading segment, revenue from certificates of deposit or valuable papers is expected to maintain a large proportion.

Source: https://thoibaonganhang.vn/nhieu-cong-ty-chung-khoan-dat-muc-tieu-tang-lai-manh-162267.html