Techcom Securities (TCX) Q2 2026 earnings summary

Executive summary

• Achieved total revenue of VND 3,745B in 2Q2026, up 41% year-over-year, with record quarterly profit before tax (PBT) of VND 2,097B, up 21% year-over-year.

• Total assets reached VND 100.6 trillion as of 30 June 2026, up from VND 80.6 trillion at year-end 2025.

• Owners' equity increased to VND 45.8 trillion, reflecting capital increases and retained earnings.

• Charter capital rose to VND 27.7 trillion following new share issuances and dividend payments in shares.

• Maintained #1 position in bond issuance advisory with 48% market share and reached a record 9.4% brokerage market share on HOSE.

Financial highlights

• Margin lending balance reached VND 51,522B, up 17% year-to-date and 52% year-over-year.

• Bond issuance volume surged to VND 60,722B, up 138% year-over-year.

• Net operating income for 2Q2026 was VND 3,250B, up 33% year-over-year and 38% sequentially.

• Operating income for H1 2026 was VND 6.53 trillion, up from VND 4.69 trillion year-over-year.

• Profit before tax for H1 2026 reached VND 3.56 trillion, a 17% increase from VND 3.04 trillion in H1 2025.

Outlook and guidance

• FY2026 revenue target set at VND 13,227B, up 26% from 2025 (excluding non-recurring income), and PBT target at VND 7,535B, up 18%.

• 1H2026 PBT reached 47% of full-year guidance, with strong momentum expected to continue in 2H2026.

• Management continues to focus on risk management, capital adequacy, and compliance with regulatory investment restrictions.

• Investment banking and ECM capabilities expected to drive integrated funding solutions and broaden capital market offerings.

• Margin lending expected to remain a key growth driver, with ample headroom for expansion.