Vietnamese broker DNSE targets 44% net profit growth in 2025

Vietnam’s DNSE Securities JSC aims for over VND1.5 trillion ($58.96 million) in revenue and VND327 billion ($12.8 million) in net profit in 2025, up 82% and 44% year-on-year respectively.

The targets were approved by the company’s shareholders at the AGM 2025 held in Hanoi on Wednesday.

At the meeting, the board of directors highlighted the favorable outlook for the Vietnamese stock market in 2025, with several positive factors supporting growth.

These include the continued recovery of the corporate bond market, which benefits from a completed regulatory framework under the government's decrees 08 and 65; an improved liquidity outlook following a 23% increase in 2024; and lower interest rates, which are expected to attract funds from savings into the stock market, as evidenced by a record margin lending balance of VND180 trillion ($7.04 billion).

Macroeconomic factors such as positive GDP growth, expected stable inflation, and continued supportive monetary and fiscal policies will also provide a favorable environment. Moreover, Vietnam’s potential upgrade to an emerging market status by FTSE Russell will likely attract additional foreign capital, while the new trading system KRX will support liquidity once operational.

In addition, the AGM approved a proposal to issue 85.65 million shares, or 25% of the total of shares before issuance to existing shareholders. The minimum offering price will be VND12,500 ($0.49) per share, with a ratio of 4:1.

The company expects to raise nearly VND1.07 trillion ($41.87 million) from this offering, which will be used to enhance margin lending capital and invest in corporate bonds, certificates of deposit, and other securities.

The shareholders also approved the election of new members for the board of directors and the supervisory board for the 2025-2030 term. Other key issues included amendments to DNSE’s charter and the board of directors' operational regulations, distribution of 2025 profits, and issuance of over 9 million employee stock option (ESO) shares.

Ambitious vision for DNSE’s financial ecosystem

According to chairman Nguyen Hoang Giang, since 2020, DNSE has achieved an average market share of about 1.85%. In 2023, the company’s new account market share ranged from 25% to 30%.

By January 2025, DNSE had recorded 1 million accounts. Additionally, in February 2025, the company’s market share in derivative securities trading reached an average of 16.23%. DNSE also reported a custody volume of 1.7 billion shares, equivalent to a total value of $1.6 billion.

Over the past three years, DNSE has developed its AI-powered virtual assistant, AI-Ensa. This tool allows the broker to deliver comprehensive news, understand investors' stock portfolios, and share investment preferences.

Since the beginning of 2025, DNSE has also implemented AI-based orders to assist clients in purchasing stocks at favorable prices without constantly monitoring the market.

"In short, DNSE’s products have already performed two major tasks of brokers: information collection and order placement," said Giang.

Moreover, the chairman highlighted DNSE's ambitious goal of creating a financial platform that not only offers margin lending services but also partners with other entities to provide loan products. This financial ecosystem would enable DNSE customers to make QR code-based (cashless) payments using dividends they receive, further optimizing their assets.

"This is an integrated ecosystem aimed at helping customers maximize their wealth," he emphasized.

Responding to shareholders’ questions, the leadership revealed a plan to acquire a fund management company at a reasonable price, with the goal of enhancing its asset management platform. Integrating diverse products into its service platform is seen as a key long-term growth driver for the company, they said.

They also estimated an after-tax profit of VND64-65 billion ($2.54 million) in the first quarter of this year.

At the end of 2024, DNSE's total assets hit VND10.6 trillion ($414.75 million), with half allocated to capital business activities, primarily in the form of certificates of deposit, and the remainder for bonds, mainly issued by domestic banks such as VietinBank and BIDV.

DNSE Securities is listed on the Ho Chi Minh Stock Exchange (HoSE) as DSE, which closed Thursday at VND25,800 ($1.01) per share.