Vietcombank Securities

What Vietcombank Securities does

Vietcombank Securities (VCBS) is a Hanoi-based, full-service Vietnamese securities firm founded in 2002 as a wholly-owned subsidiary of Vietcombank (Ngân hàng TMCP Ngoại Thương Việt Nam), one of Vietnam's largest commercial banks. The company is licensed to provide retail and institutional brokerage across HOSE, HNX, and UPCoM, derivatives trading on index and government-bond futures, margin lending, custody and securities depository, covered warrants, and discretionary account management. It maintains 100+ investment advisors and an Analysis Center publishing macro, sector, enterprise, derivatives, and bond research covering more than 50 listed enterprises representing 70% of market capitalization. Distribution runs through proprietary platforms — V-Invest (web), Web Trading, VCBS Mobile (iOS/Android), and an institutional order-placement system with Bloomberg EMSX & FIX integration — complemented by a call center (1900 98 9999) and a network of seven transaction offices in Northern Vietnam, with Vietcombank's nationwide branch network providing customer referrals.

VCBS generates revenue from seven streams: brokerage commissions on a tiered transaction-fee schedule (0.075%–0.18% depending on daily trading value and advisory tier); margin-lending interest (8.9%–15% p.a.); investment banking advisory and underwriting fees; custody fees (per-security monthly); derivatives commissions (VND 3,000–8,000 per contract plus exchange fees); and discretionary account management (management fees from 0.5% of entrusted capital plus 15% performance fees above a Vietcombank deposit-rate-linked hurdle). Investment banking deal flow includes large corporate bond mandates for Masan, THACO, Vinpearl, Greenfeed, Hong Phong 1 Power, and Ecopark, as well as government divestment advisory for SCIC, VNPT, and Vietnam Rubber Group.

Strategically, VCBS has positioned itself at the top tier of Vietnam's brokerage market (Top 10 by market share on all three exchanges) and as a regional leader in sustainable finance, advising Vietnam's first internationally certified corporate green bond (EVNFinance, VND 1,725B) and the IDI Corporation local-currency green bond. The firm secured a USD 38 million syndicated loan from foreign financial institutions in 2022, expanded its product shelf with Margin T+ and the V-Lead discretionary service, and relocated its headquarters to Vincom Center Hanoi in 2025–2026. It is privately held (limited liability company) with 101–250 employees and charter capital of VND 8.5 trillion (approximately USD 340 million).

Name

Vietcombank Securities

Legal name

Công ty TNHH Chứng khoán Ngân hàng TMCP Ngoại Thương Việt Nam

Website

https://vcbs.com.vn

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

101–250 employees

Short description

Vietcombank Securities (VCBS) is a Hanoi-based, full-service Vietnamese securities firm and wholly-owned subsidiary of Vietcombank, offering retail and institutional brokerage, derivatives, margin lending, custody, and investment banking advisory across HOSE, HNX, and UPCoM.

Ownership category

akta.pro rank

Product category

Securities Brokerage

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Margin Financing & Stock Loan Brokerage (FSAEACAO)

Keywords

• Securities brokerage
• Investment banking
• Margin lending
• Custody services
• Securities trading

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Brokerage Commission: Fees earned from executing buy/sell orders for securities (stocks, bonds, fund certificates, covered warrants) on exchanges. Revenue is transaction-based, calculated as a percentage of trading value with tiered pricing based on daily trading volume.
2. Margin Lending Interest: Interest income from providing margin loans to customers for leveraged trading. Interest rates range from 8.9% per annum for new customers to 11.9% per annum for regular customers, with 15% per annum for Margin T+ products after free period.
3. Investment Banking Advisory: Fees from providing corporate finance advisory services including M&A advisory, IPO advisory, underwriting, bond issuance advisory, and divestment advisory.
4. Securities Underwriting: Revenue from guaranteeing and distributing securities (bonds, stocks) issuances for corporate clients. VCBS acts as underwriter and/or issuing agent.
5. Custody Services: Fees charged for securities depository and management services. Custody fees are charged per security per month (e.g., 0.27 VND per stock/share certificate per month).
6. Derivatives Trading Fees: Commission income from futures contract trading including index futures (4,000-3,000 VND per contract) and government bond futures (8,000 VND per contract), plus exchange fees and position settlement fees.
7. Account Management / Discretionary Management: Fees from discretionary account management services where VCBS manages customer portfolios. Management fee starting from 0.5% of entrusted capital, plus performance fee of 15% on profits exceeding the base return rate.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels9 records

Core offering

Vietcombank Securities (VCBS) provides a full range of securities services including brokerage, investment banking, margin lending, custody, derivatives trading, fund distribution, and M&A advisory to both individual and institutional investors in Vietnam. The firm operates proprietary trading platforms and serves clients across retail, corporate, and institutional segments, leveraging its parent bank's distribution network and brand recognition.

Product overview

Vietcombank Securities (VCBS) operates as a full-service securities company offering a multi-platform trading infrastructure alongside investment banking and institutional services. Its core offering consists of digital trading platforms — V-Invest (web-based), Web Trading (browser-accessible), and VCBS Mobile (iOS/Android app) — supported by a call center hotline. The product portfolio spans securities brokerage, derivatives trading, margin financing (Margin), covered warrants, fund certificate distribution, corporate bonds, account discretionary management, and investment advisory. VCBS also provides investment banking services including M&A advisory, underwriting and issuance agency for equities and bonds, divestment and listing advisory, and enterprise conversion advisory. Research capabilities are delivered through the Analysis Center, which produces macro, industry, enterprise, market, derivatives, and bond reports covering over 50 leading enterprises representing 70% of market capitalization. For corporate clients, VCBS offers institutional trading, enterprise engagement facilitation, and corporate financial advisory. All services are accessible through VCBS's physical branch and transaction office network across Northern Vietnam, with the head office in Hanoi.

Differentiator

Problem solved

Functional benefit

Products and services

• Securities Brokerage
• Investment Banking
• Margin Lending
• Custody Services
• Derivatives Trading
• M&A Advisory
• Securities Underwriting
• Fund Distribution and Discretionary Management

Quantifiable outcome

• Successfully advised and distributed VND 1,725 billion green bond for EVNFinance - first corporate green bond in Vietnam determined according to international standards
• +3 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, minor and moderate.

• Vietcombank (Ngân hàng TMCP Ngoại thương Việt Nam)coreStrategic or Co-development Partner · 7 January 2002VCBS is a wholly-owned subsidiary of Vietcombank, Vietnam's leading commercial bank. The parent company provides brand backing, customer referrals through its extensive branch network, and capital markets services including securities custody. VCBS leverages Vietcombank's customer base and brand reputation for market positioning. The relationship enables cross-selling opportunities and integration of banking and securities services.
• Eastspring Investments VietnamminorChannel Partner/ Reseller/ DistributorVCBS distributes Eastspring Investment fund certificates to retail customers. The partnership allows VCBS customers to access Eastspring's investment funds including the Eastspring Investment Fund (ENF) focused on stable and sustainable growth.
• SSI Asset Management (SSI-SCA)minorChannel Partner/ Reseller/ DistributorVCBS distributes SSI Asset Management's SSI-SCA fund certificates. The fund aims for long-term asset value growth and stable income through investment in stocks of companies with sustainable competitive advantages.
• SSIAM (SSIAM HNX30 ETF)minorChannel Partner/ Reseller/ DistributorVCBS distributes SSIAM's HNX30 Exchange Traded Fund (ETF), which aims to achieve investment performance closely tracking the HNX30 Index return.
• VCBF (Vietcombank Fund Management)minorChannel Partner/ Reseller/ DistributorVCBS distributes Vietcombank Fund Management's products including VCBF-BCF (Leading Equity Investment Fund) and VCBF-TBF (Strategic Balanced Fund).
• VFM (Vietnam Fund Management)minorChannel Partner/ Reseller/ DistributorVCBS distributes VFM's public funds including VF1 (Vietnam's first public fund established in 2004 with initial capital of 300 billion VND raised in 10 days) and VF4 (Leading Vietnam Enterprises Investment Fund).
• CGIF (Credit Guarantee and Investment Facility)moderateStrategic or Co-development PartnerCGIF provided partial payment guarantee for the Hong Phong 1 Power bond issuance - the first guaranteed bond in Vietnam with partial payment guarantee from a foreign guarantor, where VCBS acted as advisor and issuing agent.
• Vietnam Commercial Banks (Sector)minorOthersVCBS operates within the broader Vietnamese banking and securities ecosystem. The sector context includes deposit rate competition among banks including BIDV and private lenders, which affects funding costs and market dynamics.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• SSI Securities Corporation: Vietnam's largest securities firm by market share, offering full-service brokerage, investment banking, asset management, and proprietary trading. Directly comparable to VCBS across retail brokerage, IB, and derivatives, with broader scale and stronger digital platform development.
• Ho Chi Minh City Securities Corporation (HSC): Major Vietnamese securities firm headquartered in HCMC providing brokerage, investment banking, and asset management. Direct peer in product scope and target segments, with southern geographic strength that contrasts with VCBS's northern concentration.
• VNDirect Securities Corporation: One of Vietnam's leading tech-forward securities firms offering brokerage, IB, and digital wealth management. Directly comparable to VCBS in product breadth but differentiated by aggressive digital platform development and southern market base.
• BIDV Securities (BSC): Securities subsidiary of BIDV—one of Vietnam's largest state-owned commercial banks—offering brokerage and investment banking. Closely parallel structure to VCBS as a major-bank-owned securities firm with similar retail and institutional customer bases.
• MB Securities (MBS): Securities subsidiary of Military Commercial Joint Stock Bank offering brokerage, IB, and margin lending. Comparable bank-affiliated model with retail customer referrals, similar competitive positioning to VCBS in the Vietnamese securities market.
• Mirae Asset Securities Vietnam: Korean-owned full-service securities firm in Vietnam offering brokerage, IB advisory, and proprietary trading. Comparable to VCBS across retail and institutional services with the additional backing of the Mirae Asset global platform.
• Vietcap Securities: Major Vietnamese securities firm providing brokerage, investment banking, and asset management with strong HCMC presence. Directly comparable to VCBS across full-service securities offerings with particular strength in southern retail and IB mandates.
• KB Securities Vietnam (KBSV): Korean-affiliated Vietnamese securities firm providing brokerage, investment banking, and margin lending. Direct peer in product suite, with foreign parent providing capital and research backing similar to VCBS's Vietcombank relationship.
• ACB Securities (ACBS): Banking-affiliated securities firm owned by Asia Commercial Bank offering brokerage and investment banking services. Structurally similar to VCBS as a bank-owned securities subsidiary with captive customer access through the parent bank's network.
• Shinhan Securities Vietnam: Foreign-affiliated securities firm in Vietnam offering brokerage, advisory, and investment banking services. Comparable full-service scope, with foreign parent providing research and capital backing analogous to VCBS's Vietcombank relationship.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCGFRtRyo-nV23Ru_cDSMCqQ
• Facebookfacebook.com/vietcombanksecurities.vcbs
• LinkedInlinkedin.com/company/vietcombank-securities-company
• Xx.com/vcbsecurities

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Vietcombank Securities