AsemconnectVietnam - VPS Securities Joint Stock Company (stock code: VCK) has just announced its Q1 2026 business results, recording positive growth compared to the same period last year, while continuing to maintain its leading market position.

In Q1 2026, VPS recorded total revenue of VND2,846 billion, a 63% increase compared to the same period last year, while pre-tax profit reached VND1,547 billion, a 68% increase compared to Q1 2025. This result reflects consistent improvement across all business segments, along with operational efficiency and the company's ability to leverage economies of scale. Profit margins continue to remain high, indicating strengthened growth quality.
Notably, VPS continued to maintain its leading position in the stock brokerage market share on the HOSE with 15.32% in Q1 2026, amidst low market liquidity. In addition, the company also leads the market share on other exchanges, with 19.45% on the HNX, 24.35% on UPCoM, and 33.34% in the derivatives market. Maintaining a leading position across all markets reflects its superior distribution capabilities, broad customer base, and effective exploitation of its product lines.
Revenue from brokerage activities reached VND1,003 billion in Q1 2026, a 73% increase compared to the same period last year. This increase stems from VPS maintaining and expanding its market share across all exchanges, thereby strengthening the role of its brokerage segment as a growth platform, while also facilitating related business activities such as margin lending and other value-added services.
Notably, margin lending continued its positive growth momentum, with outstanding loans and receivables reaching VND 30,407 billion. This trend not only contributed to revenue growth but also supported the improvement of the Company's profit margin.
The successful fundraising through IPO and private placement at the end of 2025 significantly strengthened VPS's equity base, creating a sustainable cost-of-capital advantage in the context of rising market interest rates. The majority of the Company's margin lending is financed from equity capital, which is less expensive than debt financing. This is also one of the key factors that helps VPS maintain the aforementioned profit margin and continue expanding its lending operations even in a higher interest rate environment.
As of the end of Q1/2026, VPS's total assets reached VND53,217 billion and equity reached VND30,097 billion. The company maintained a financial safety ratio of 901%, significantly higher than the required level of 260%, while recording a ROE (cumulative over the last 4 quarters) of 22.6%. A strong capital base and high profitability create favorable conditions for VPS to continue expanding its business operations, especially in the lending sector and launching new products.
In the future, VPS expects to continue its growth momentum thanks to its strong capital base, along with supporting factors from market reforms and the upgrade roadmap. The leading position across all exchanges provides a foundation for the Company to continue improving operational efficiency and increasing shareholder value.
N.Nga
Source: VITIC/Tinnhanhchungkhoan