AsemconnectVietnam - Amidst the fragmented and illiquid performance of the capital market in the first half of 2026, DSC Securities Joint Stock Company (DSC - HOSE) maintained growth in its core business segments such as brokerage and margin lending.

According to DSC, cumulative operating revenue for the first 6 months reached VND333 billion, a 29% increase compared to the same period last year and completing 45% of the annual plan. Brokerage and margin lending continued to be the driving force for growth, with brokerage revenue reaching VND55 billion, a 31% increase compared to the same period last year, while margin lending revenue reached VND146 billion, a 30% increase.
By the end of Q2/2026, outstanding margin loans reached VND2,899 billion, supported by capital from the previous capital increase. According to DSC, these two business segments contributed approximately VND131 billion in pre-tax profit, reflecting the effectiveness of the strategy focused on improving service quality and expanding the customer base.
Consolidated pre-tax profit for the first six months reached VND93 billion, a decrease of 24% compared to the same period last year and completing 26% of the annual plan. The main reasons stem from the proprietary trading and investment banking segments.
Notably, the capital business recorded revenue of VND100 billion, an increase of 73% compared to the same period last year, but the accounting profit remained negative due to accounting factors in the current period. According to DSC, this is a technical accounting fluctuation and does not yet reflect the actual effectiveness of cash flow and business operations.
In addition to traditional securities activities, DSC is pursuing an investment banking strategy that involves deep involvement in corporate restructuring processes. A notable achievement in the second quarter was DSC increasing its ownership stake in Vietnam Medicinal Materials Joint Stock Company (DVM) to 14.4%, becoming a major shareholder and directly participating in the company's restructuring process.
According to DSC, direct participation in the restructuring process not only expands the company's role in the investment banking market but also creates a sustainable revenue stream for the future.
This strategy also demonstrates DSC's development orientation: using stable cash flow from core business segments to invest in cyclical opportunities, thereby diversifying revenue streams and increasing shareholder value in the long term.
N.Nga
Source: VITIC/Bao Tai chinh – Dau tu