AsemconnectVietnam - After a comprehensive restructuring period, Tien Phong Securities Joint Stock Company (TPS, code ORS - HOSE) is showing a clear recovery, entering a new growth phase with the orientation of modernizing operations on a digital technology platform.

According to the financial report for the third quarter of 2025, TPS recorded a profit after tax of more than VND133 billion, showing that profits have returned to the growth trajectory compared to the same period last year. This result reflects the effectiveness of the process of streamlining the apparatus, optimizing operations and controlling costs that TPS has implemented since the beginning of 2025.
Specifically, operating costs decreased sharply by 65%, from more than VND228 billion to VND80 billion, thanks to cutting proprietary trading losses, restructuring the financial asset portfolio and improving operational efficiency. Key business segments such as brokerage and margin lending continued to maintain stable profit margins, contributing positively to overall business results.
In the first 9 months of the year, TPS recorded a pre-tax profit of nearly VND34 billion, erasing all accumulated losses incurred in the first months of 2025, marking an important milestone in the recovery period and entering a new development cycle of the company.
Expanding into digital assets, strengthening financial foundation
In addition to business results, TPS is expanding its operations into the digital asset sector. Recently, the company approved a capital contribution to establish Tien Phong Digital Asset Company with a 10% ownership ratio, with the participation of Viet Cat Fund Management Company - a subsidiary of Tien Phong Bank.
The Chairman of TPS also holds the role of Chairman of Tien Phong Digital Assets Company, thereby demonstrating the unity in strategic orientation of the entire TPB - TPS ecosystem, aiming to develop a trading platform and digital asset management in line with the trend of digitalization of Vietnam's capital market.
In parallel with this strategic orientation, TPS continues to strengthen its financial foundation through the successful issuance of VND 1,000 billion in private bonds to restructure debt, demonstrating a proactive and flexible capital management strategy. The company is completing procedures for issuing private shares to TPBank; after completion, TPBank is expected to hold 51% of charter capital, playing the role of parent bank in the ownership structure.
With support from TPBank, TPS has the conditions to take advantage of the strengths of digital banking, modern technology platform and extensive customer network, thereby promoting the development of securities brokerage, investment banking and digital finance businesses.
Thanks to a clear development strategy, pioneering steps into the digital asset market and the support of TPBank, Tien Phong Securities is gradually establishing a new position in the process of digital transformation and business model innovation in the securities - finance sector.
On September 5, 2025, Vietnam Investment Credit Rating Joint Stock Company (VIS Rating) officially announced the long-term credit rating results for TPS. Accordingly, TPS is rated at BBB with a "Stable" outlook, marking an important milestone in the journey of affirming its reputation and financial capacity in the stock market. This result also reflects TPS's solid financial foundation, effective capital and liquidity management ability, and shows that the company is on the right track in its strategy of strengthening its financial capacity and sustainable development. This is an important basis for TPS to continue expanding its operations and improving its position in the market in the coming time.
N.Nga
Source: VITIC/Tinnhanhchungkhoan