Vietcap jumps two notches to 6th among top brokers in Vietnam

By My Ha, Hai Yen
Fri, April 5, 2024 | 9:23 am GMT+7

Vietcap Securities climbed two notches to sixth place among the top ten brokers in Vietnam in the first quarter (Q1) of this year, announced the Ho Chi Minh Stock Exchange (HoSE).

Vietcap’s Q1 market share rose to 5.57% from 4.47% recorded in 2023. This growth was propelled by its robust institutional brokerage services, whose market share reached a new high of 34% in the period.

 The market share of broker Vietcap Securities rises significantly in Q1. Photo by The Investor/Trong Hieu.

The market share of broker Vietcap Securities rises significantly in Q1. Photo by The Investor/Trong Hieu.

The firm, listed on HoSE as VCI, aims to regain the fifth position among stock brokerages by the end of 2024.

Over the three months, the top five brokers in terms of market share remained unchanged, with VPS Securities (20.29%), SSI Securities Corporation (9.32%), Techcom Securities (6.56%), VNDirect Securities (6.01%), and Ho Chi Minh City Securities (5.92%).

The stock market’s positive trajectory has bolstered broker performances. Vietnam’s benchmark VN-Index gained nearly 13% in Q1, accompanied by month-by-month improvements in liquidity.

In Q1, Vietcap earned an estimated pre-tax profit of VND220 billion ($8.8 million), rising 2.7 fold year-on-year. It has targeted VND2.51 trillion in revenue and VND700 billion in pre-tax profit this year, up 1.56% and 22.78%, respectively.

VCI shares closed Thursday at VND52,000 ($2.08) apiece.

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