Record-breaking securities earnings reach unprecedented heights, with a significant segment of the population being left in the financial cold
In a remarkable turn of events, VIX Securities has surpassed expectations and outperformed other securities firms in Vietnam, thanks to exceptional gains from proprietary trading. The company's Q2 operating revenue rose an impressive 422% year-on-year to nearly VNĐ1.98 trillion, setting a new company record and exceeding its annual profit target by 40% halfway through the year.
This stellar performance propelled VIX Securities to second place in the industry by profit, surpassing SSI Securities Corporation. The firm's net profit hit VNĐ1.3 trillion, more than 10 times the prior year’s Q2 figure.
Key Drivers of VIX's Success
The core business of proprietary trading was the main revenue and profit contributor for VIX Securities, showcasing the firm's strength in managing its own trading positions rather than relying solely on brokerage commissions. Margin lending and a robust 5-year average return on equity (ROE) of 19% support its sustainable growth as an investment powerhouse rather than just a conventional broker.
Favorable market conditions in Q2, characterized by volatility and a rebound in equities after initial tariff-induced sell-offs, helped create opportunities for high returns on trading positions. These conditions, along with solid financial management, enabled VIX Securities to effectively capitalize on trading opportunities.
Market Context and Foreign Capital Inflows
The broader market context in Q2 2025 was marked by significant volatility due to tariff policies, geopolitical tensions, and inflation concerns, causing spikes in market volatility indices like the VIX. However, these conditions also presented trading opportunities that VIX Securities managed to capitalize on effectively.
July was the most active month for foreign capital inflows since the outset of the year, with foreign investors recording net-buying volume of $340 million across the market. Analysts attribute the return of foreign capital, especially from institutional investors, to growing optimism over a potential market status reclassification from 'frontier' to 'emerging' status.
Notable Performances Among Other Firms
The Q2 profits of 37 publicly listed securities firms were record-breaking, totaling approximately $308 million, an increase of 26% year-on-year. Other firms that reported record quarterly profits in Q2 included VPBank Securities, ACB Securities, and HD Securities.
However, not all firms fared as well. Tien Phong Securities, EVS Securities, and SBS Securities slipped into the red during Q2, while both VCI and HSC dropped out of the top 10 most profitable securities firms due to their declining profits.
Standout Performances
Techcom Securities (TCBS) posted its highest quarterly profit to date of $56.8 million in Q2, and LPBank Securities recorded the largest year-on-year growth, with Q2 profit reaching $8.2 million, 15 times higher than in 2024.
Among the standout performances, VIX's profits were 10 times higher than last year’s second quarter, allowing it to surpass SSI Securities Corporation and climb to second place in the industry by profit. VIX Securities achieved an unprecedented Q2 profit of $52 million, surpassing its full-year record profit of $38.6 million set in 2023.
In addition to VIX Securities' impressive performance, July was the most active month for foreign capital inflows since the outset of the year, with foreign investors recording net-buying volume of $340 million across the market. This influx of foreign capital, particularly from institutional investors, has been attributed to growing optimism over a potential market status reclassification from 'frontier' to 'emerging' status.
In conclusion, the success of VIX Securities in Q2 2025 can be attributed to its expertise in proprietary trading, complemented by favorable market volatility and solid financial management, enabling it to substantially outperform peers in the securities sector.
VIX Securities' impressive Q2 profit of $52 million was a result of its success in proprietary trading, margin lending, and a robust 5-year average return on equity (ROE) of 19%. This performance propelled the firm to second place in the industry by profit.
The influx of foreign capital, particularly from institutional investors, during July played a significant role in the overall market context, which in Q2 2025 was marked by volatility, geopolitical tensions, and inflation concerns. This foreign capital influx, attributed to growing optimism for a potential market status reclassification, provided additional opportunities for securities firms like VIX Securities to effectively capitalize on trading opportunities.
