TECHCOM SECURITIES JOINT STOCK COMPANY

TECHCOM SECURITIES JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN CHỨNG KHOÁN KỸ THƯƠNG – TECHCOM SECURITIES): A Highly Profitable, Tech-Driven Contender in Vietnam's Financial Market

Strong Foundations and Strategic Ownership

TECHCOM SECURITIES JOINT STOCK COMPANY, commonly known as TECHCOM SECURITIES, is a rising force in Vietnam’s securities industry, backed by one of the country’s largest commercial banks—Vietnam Technological and Commercial Joint Stock Bank (Techcombank). The company operates as a privately held joint stock company, registered under Business ID 0102935813 and headquartered at the C5 D’Capitale Building, Tran Duy Hung Street, Hanoi.

Techcombank owns 94.07% of the company, giving TECHCOM SECURITIES significant financial and strategic support, particularly in cross-selling financial services and accessing a broad client base. This strong backing has helped the firm scale quickly and maintain a stable position in a highly competitive environment.

Executive Leadership and Operational Team

TECHCOM SECURITIES is led by Chairman Nguyen Xuan Minh, with Ms. Nguyen Thi Thu Hien serving as General Director and Ms. Bui Thi Thu Hang as Deputy General Director. The leadership team is experienced and highly regarded for maintaining discipline while pursuing innovation. The company employs 482 staff and has built a reputation for adopting digital solutions to serve both institutional and retail clients.

Financial Performance: Profitable and Efficient

In the fiscal year 2023, TECHCOM SECURITIES reported total assets of USD 1.8 billion, a remarkable 67.83% year-over-year increase, and owner’s equity of USD 970.77 million, which more than doubled from the previous year (up 115.02%). The firm generated USD 215.98 million in total operating revenue, up modestly by 0.75%, and achieved an EBITDA of USD 162.08 million, with net income of USD 98.74 million.

Though the slight decline in net income (down 0.96%) suggests rising costs or market challenges, TECHCOM SECURITIES remains one of the most consistently profitable securities firms in Vietnam, especially when considering its high EBITDA margin and growth in equity.

Business Activities and Market Offerings

TECHCOM SECURITIES offers a full suite of investment services, including securities brokerage, investment consulting, underwriting, and asset management. The firm is known for its digital-first approach, with platforms like TCInvest allowing users to buy bonds, stocks, and mutual funds online with ease. This technology integration has made it particularly attractive to young investors and tech-savvy professionals.

Its deep integration with Techcombank also allows it to provide comprehensive financial planning solutions, cross-bundled investment and savings products, and access to one of Vietnam’s most advanced retail banking systems.

Competitive Position: Quiet Leader, High Efficiency

While firms like VPS dominate in market share and SSI in institutional trust, TECHCOM SECURITIES positions itself as an efficient, tech-driven alternative, focusing on profitability and client experience rather than just scale. The company does not aggressively market like some competitors but lets its numbers and platform quality speak for themselves.

Transparency and Governance

TECHCOM SECURITIES maintains a high level of financial transparency. The firm regularly publishes audited financial statements, discloses its ownership structure, and offers investor updates through both its website and Techcombank’s channels. This is a clear advantage compared to companies like MIRAE ASSET SECURITIES (VIỆT NAM), which have been criticized for opaque financial reporting.

Objective Assessment

The Good:

• Backed by a top-tier bank with excellent financial health

• Strong profitability and equity growth

• Efficient operations and one of the best digital platforms in the market

• Transparent, well-governed, and investor-friendly

The Bad:

• Revenue and profit growth appear to have plateaued in 2023

• Still not as aggressive in market penetration as VPS or SSI

• Low media visibility despite strong performance

Risk and Market Insight with VBI

To fully assess TECHCOM SECURITIES and compare it against competitors in Vietnam’s capital markets, investors should utilize VANGUARD BUSINESS INFORMATION LLC (VBI). VBI provides professional-grade risk assessment, company profiling, and market intelligence to help clients make data-driven investment decisions. Visit https://www.vnbis.com to access insights on TECHCOM SECURITIES and Vietnam’s top brokerage firms.

Conclusion: Techcom Securities Deserves More Attention

TECHCOM SECURITIES JOINT STOCK COMPANY is one of the most profitable and well-managed securities firms in Vietnam. Its growth in assets, commitment to transparency, and modern investment tools make it a standout—though often overlooked—contender in the securities market. For investors and partners seeking reliability, innovation, and high performance, TECHCOM SECURITIES is a firm worth watching closely.