VPBank Securities

What VPBank Securities does

VPBank Securities (VPBankS) is a Vietnamese securities firm and listed subsidiary of VPBank (Vietnam Prosperity Bank), headquartered in Hanoi and listed on the Ho Chi Minh Stock Exchange under ticker VPBS following Vietnam's largest-ever securities industry IPO in November 2025. The firm operates a digital-first, multi-product investment platform centered on the proprietary NEO Invest mobile application, supported by the NEO Advisor internal platform for sales staff. Its product suite spans equity brokerage (eStock), derivatives (eFuture including VN30/VN100 index futures and government bond futures), covered warrants (23 listed codes), corporate bonds (eBond), margin lending with three tiers (eMargin Turbo, Boost, Pro), open-end mutual fund distribution (eFund) in partnership with Dragon Capital, Vina Capital, SSI Asset Management, and others, discretionary portfolio management (ePortfolio), systematic savings (eGrow), and a Private Wealth service for high-net-worth clients with SMBC as a strategic partner.

The company serves four primary customer segments: individual retail investors (1.3+ million accounts), institutional investors, corporate issuers (investment banking clients including VinFast, Masan Resource, Becamex IDC, TTC Group, and Phú Quốc Tourism Development), and high-net-worth individuals. Revenue is generated through brokerage commissions (0.10-0.15% per transaction), margin lending interest (promotional 0%, standard 9.9-13.5%), investment banking advisory fees, bond and fund distribution fees, proprietary trading, and wealth management fees. Distribution combines self-service digital onboarding via eKYC, a dedicated institutional sales desk, an ePartner referral network offering commissions up to 68% on referred trading fees, and cross-selling through the VPBank banking branch network.

The firm is a top 3 securities company in Vietnam by total assets (VND 79 trillion / ~$3.2 billion), top 10 by brokerage share on HOSE, and top 3 by margin lending outstanding (VND 36 trillion). Post-IPO, VPBank Securities has also positioned itself in Vietnam's emerging regulated digital asset market as a founding shareholder of CAEX (Vietnam Prosperity Crypto Asset Exchange), which has attracted strategic investments from OKX Ventures and HashKey Capital under the government's crypto pilot program.

Name

VPBank Securities

Legal name

Công ty Cổ phần Chứng khoán VPBank

Website

https://vpbanks.com.vn

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

251–500 employees

Short description

VPBank Securities (VPBankS) is the publicly listed securities arm of VPBank in Vietnam, operating the NEO Invest digital platform to offer brokerage, derivatives, margin lending, mutual fund distribution, and investment banking services to retail, institutional, corporate, and high-net-worth clients. It ranks top 3 in Vietnam by total assets and top 10 by HOSE brokerage share following its 2025 IPO.

Ownership category

akta.pro rank

Product category

Securities Brokerage and Investment Services

NAICS

Investment Banking and Securities Intermediation (52315), Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Margin Lending & Equity Financing (FSACAFAC)

akta.pro secondary industries

Stock Borrow/Loan (Equities Securities Lending) (FSACAFAD), Securities Lending & Collateral Management (Custodian-Led) (FSAFAHAC)

Keywords

• Securities brokerage
• Investment banking services
• Margin lending
• Wealth management
• Derivatives trading

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Brokerage Commission: Commissions charged on securities trading transactions on HOSE and HNX exchanges. Fees range from 0.10% to 0.15% per transaction depending on trading volume and account type. Core revenue stream for retail brokerage operations.
2. Margin Lending Interest: Interest income from margin loans (eMargin product). Competitive rates starting from 0% for promotional periods, standard rates from 9.9% to 13.5% annually. Major revenue contributor given large outstanding loan portfolio.
3. Investment Banking Fees: Advisory fees for IPO underwriting, share issuance, bond issuance, M&A advisory, and corporate restructuring services. Landed major deals including VinFast, Masan, Becamex IPOs.
4. Bond Distribution (eBond): Distribution fees and potential spread from selling corporate bonds to investors through the NEO Invest platform. Bonds from reputable issuers with varying maturities and yields.
5. Proprietary Trading: proprietary trading desk generating profits from proprietary positions in securities, derivatives, and other financial instruments.
6. Fund Distribution (eFund): Distribution fees from selling open-end fund units from partnered asset management companies including Dragon Capital, Vina Capital, SSI Asset Management, Bao Viet, MB Capital, Mirae Asset, and others.
7. Private Wealth Management: Premium wealth management services for high-net-worth individuals including exclusive investment opportunities, personalized advisory, and access to IPO allocations.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels8 records

Core offering

VPBank Securities is a Vietnamese securities firm providing retail and institutional brokerage, margin lending, derivatives and covered warrants trading, corporate bond distribution, mutual fund distribution, discretionary portfolio management, and investment banking services. Its NEO Invest digital platform unifies access to eStock, eBond, eFund, eFuture, ePortfolio, and eMargin products, with on-the-ground coverage teams serving corporate issuers and high-net-worth clients.

Product overview

VPBank Securities (VPBankS) operates a unified multi-product investment platform centred on the NEO Invest digital application, supported by the NEO Advisor internal platform for sales staff. The core product suite spans securities trading (eStock), derivatives (eFuture), covered warrants, corporate bonds (eBond), and open-end mutual funds (eFund) distributed in partnership with leading Vietnamese asset managers including Dragon Capital, Vina Capital, SSI Asset Management, Mirae Asset, Dai-ichi Life Vietnam, KIM Vietnam Fund Management, UOB Asset Management, VCBF, Bao Viet Fund Management, and MB Capital. Advanced offerings include discretionary portfolio management (ePortfolio) with five strategy models, margin lending across three tiers (eMargin Turbo/Boost/Pro), systematic savings (eGrow), and a Private Wealth premium service. The platform is complemented by the ePartner distribution network, VPBankS Loyalty rewards programme, VPBankS Digital self-directed tier, and the VPBankS Academy educational hub. An Investment Banking division provides IPO advisory, bond issuance, and M&A services. VPBankS also participates as a founding shareholder in CAEX, Vietnam's regulated crypto asset exchange pilot.

Differentiator

Problem solved

Functional benefit

Brands

• NEO Invest: Digital investment platform for securities trading
• NEO Advisor
• VPBankS Academy
• VPBankS Private Wealth

Products and services

• eStock A modern, flexible securities investment platform that allows investors to start with small capital while leveraging high profit potential, featuring real-time trading and professional advisory support on the NEO Invest platform. Targeted at individual retail investors in Vietnam.
• eBond Corporate bond distribution product traded on the NEO Invest platform, enabling investors to access and invest in bonds issued by reputable Vietnamese enterprises, with stable returns, diversified bond portfolios, and flexible holding periods.
• eFund Distribution of open-end mutual fund certificates on the NEO Invest platform, providing access to equity, bond, and balanced funds managed by reputable Vietnamese asset management companies such as Dragon Capital, Vina Capital, SSI Asset Management, Mirae Asset, and others, with minimum investment starting from 100,000 VND.
• eFuture Derivatives trading product comprising VN30 and VN100 index futures contracts and Government Bond futures, enabling investors to amplify profits and hedge risks with high leverage, T+0 trading, and two-way profit potential. Free trading is offered for derivatives.
• ePortfolio Discretionary investment service enabling individual investors to invest according to one or more model portfolios researched and built by VPBankS experts, offering five strategy portfolios with expected returns ranging from 12% to 30% per annum, including trend-following, banking, VN10, energy, and stable dividend strategies.
• eMargin Digital margin lending platform with three tiers: eMargin Turbo (0% interest for first 5–15 days, up to VND 15 billion limit), eMargin Boost (rates from 9.9%–13.5% annually, up to VND 50 billion), and eMargin Pro (rates from 10% annually for VIP customers, up to VND 50 billion). Provides flexible margin loans to optimise capital and investment efficiency.
• Covered Warrants (Chứng quyền có bảo đảm) Covered warrants issued transparently by VPBankS, allowing investors to leverage underlying stock price movements with low cost and high leverage, with limited risk for short and medium-term trading strategies. VPBankS maintains 23 listed warrant codes covering major stocks on the Ho Chi Minh Stock Exchange.
• eGrow (Tích sản) Systematic savings investment product helping customers build investment plans and accumulate potential stocks over the long term through disciplined periodic investing on the NEO Invest platform. Targeted at retail investors seeking long-term wealth accumulation.
• Private Wealth Premium wealth management service for high-net-worth clients offering personalised investment strategies, exclusive investment opportunities, professional advisory, seminars, and lifestyle privileges including private lounges, networking events, and education consulting. Benefits from a strategic partnership with SMBC (Sumitomo Mitsui Banking Corporation) for international capital market expertise.
• Investment Banking Comprehensive investment banking services including stock issuance advisory, bond issuance advisory, financial advisory, and M&A advisory, with notable transactions for clients such as Masan, Becamex, TTC, VinFast, and Phú Quốc tourism development. Active in Vietnam's IPO wave targeting FTSE Russell market upgrade.
• NEO Invest V4 Application Upgraded version of the NEO Invest digital investment application with a refreshed interface and improved features for retail and institutional investors using the VPBank Securities platform.

Quantifiable outcome

• Top 3 largest securities firm by total assets in Vietnam
• +5 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

14 partnerships are on record, tiered core, notable, flagship and standard.

• CAEX (Vietnam Prosperity Crypto Asset Exchange)coreStrategic or Co-development Partner · 1 September 2025VPBank Securities is a founding shareholder of CAEX, Vietnam's first regulated cryptocurrency exchange established under Government Resolution 05/2025/NQ-CP for a 5-year pilot program. CAEX was founded in September 2025 with initial charter capital of VND 25 billion and aims to reach VND 10 trillion ($380 million) minimum capital requirement for the regulatory sandbox. VPBankS's involvement positions the firm in Vietnam's emerging digital asset market.
• LynkiDcoreStrategic or Co-development Partner · 1 September 2025LynkiD is a founding shareholder of CAEX alongside VPBank Securities. LynkiD provides digital identity technology and platform capabilities for the cryptocurrency exchange.
• Masan Resource Corporation (Núi Pháo)notableOthersVPBank Securities acted as issuance advisor and placement agent for corporate bond issuance by Masan's mining subsidiary. This represents a flagship investment banking deal in Vietnam's mining sector.
• Becamex IDC CorporationnotableOthersVPBank Securities served as bond issuance placement agent for Becamex, Vietnam's leading industrial zone developer. Deal demonstrates VPBankS's capability in infrastructure and real estate sectors.
• VinFastnotableOthersVPBank Securities provided investment banking advisory services for VinFast, Vietnam's national electric vehicle manufacturer. Landmark deal in the automotive and EV sector.
• Phú Quốc Tourism Development and Investment JSC (PQTDIC)notableOthersVPBank Securities acted as bond issuance advisor for PQTDIC's tourism real estate development projects, supporting capital raising for Vietnam's tourism sector.
• SMBC (Sumitomo Mitsui Banking Corporation)flagshipStrategic or Co-development PartnerStrategic partnership with SMBC for VPBankS Private Wealth service. SMBC provides international capital market expertise and investment banking capabilities to enhance premium wealth management offerings for high-net-worth clients.
• Dragon CapitalcoreChannel Partner/ Reseller/ DistributorDistribution partner for open-end mutual funds managed by Dragon Capital, Vietnam's leading asset management company. VPBankS distributes Dragon Capital fund products through the eFund platform.
• Vina CapitalcoreChannel Partner/ Reseller/ DistributorDistribution partner for Vina Capital mutual fund products through VPBankS eFund platform. Vina Capital is a major Vietnam-focused investment firm.
• SSI Asset ManagementcoreChannel Partner/ Reseller/ DistributorDistribution partner for SSI mutual fund products (including SSIEF - SSI Future Creation Fund) through VPBankS eFund platform.
• Bao Viet Fund ManagementstandardChannel Partner/ Reseller/ DistributorDistribution partner for Bao Viet mutual fund products through VPBankS eFund platform.
• MB CapitalstandardChannel Partner/ Reseller/ DistributorDistribution partner for MB Capital mutual fund products through VPBankS eFund platform.
• Mirae Asset VietnamstandardChannel Partner/ Reseller/ DistributorDistribution partner for Mirae Asset mutual fund products through VPBankS eFund platform.
• UOB Asset Management VietnamstandardChannel Partner/ Reseller/ DistributorDistribution partner for UOB AM Vietnam mutual fund products through VPBankS eFund platform.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• SSI Securities Corporation: Largest securities company in Vietnam by market share, offering a comparable full-service platform across brokerage, investment banking, margin lending, and proprietary trading. Direct competitor for HOSE market share, IB mandates, and institutional clients.
• VNDirect Securities Corporation: Digital-first Vietnamese broker with strong retail franchise and proprietary online trading platform. Most comparable peer to VPBankS on digital UX, self-service onboarding, and retail brokerage scale.
• Yuanta Securities Vietnam: Vietnamese affiliate of Taiwan-based Yuanta Group offering brokerage, margin, and investment banking. Direct competitor for retail margin lending and HOSE trading share.
• MB Securities Joint Stock Company (MBS): Securities arm of Military Commercial Joint Stock Bank (MB), providing comparable bank-affiliated brokerage, margin, and IB services. Competes with VPBankS for bank cross-sell flow and HOSE volume.
• Saigon-Hanoi Securities Joint Stock Company (SHS): Mid-sized Vietnamese securities firm with full-service brokerage, margin, and IB offerings. Competes with VPBankS in the same domestic market across retail and institutional segments.
• HCM Securities Corporation (HSC): One of Vietnam's longest-established securities firms with strong institutional brokerage and investment banking franchises. Competes directly with VPBankS for HOSE trading volume, IB mandates, and high-net-worth clients.
• ACBS (Asia Commercial Bank Securities): Securities affiliate of Asia Commercial Bank (ACB), one of Vietnam's leading private banks. Comparable bank-affiliated brokerage model leveraging parent bank customer cross-sell, similar in structure to VPBankS's VPBank ecosystem advantage.
• Mirae Asset Securities Vietnam: Local affiliate of Korean broker Mirae Asset, offering brokerage, margin lending, and investment banking services in Vietnam. Competes with VPBankS across retail and institutional segments.
• KIS Vietnam Securities Corporation: Vietnamese affiliate of Korea Investment & Securities, providing full-service brokerage and IB services. Direct competitor for HOSE market share and IPO advisory mandates.
• Vietcap Securities Joint Stock Company (VCSC): Vietnamese securities firm with strong investment banking franchise and growing retail brokerage. Competes with VPBankS on IPO advisory, M&A mandates, and HOSE brokerage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/VPBankS
• LinkedInlinkedin.com/company/chungkhoanvpbank

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VPBank Securities