Despite early-year volatility linked to Middle East tensions, Vietcap Securities JSC is targeting robust growth for the year. According to documents to be submitted to the company's AGM on March 30 in Ho Chi Minh City, Vietcap forecasts total revenue of $261 million and pre-tax profit of $92 million – representing increases of 29 per cent and more than 41 per cent, respectively, compared to 2025 results.
These targets are based on Vietcap’s assessment that the Vietnamese stock market will continue its positive growth trajectory, supported by factors such as economic recovery and expansion, government support policies, and the prospect of a market upgrade, combined with the long-term internal growth momentum of listed firms.
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The expected market upgrade, set to take effect from September, is anticipated to attract billions of US dollars in foreign capital and enhance Vietnam’s position on the global investment map.
Vietcap insiders forecast that the VN-Index will rise by 17 per cent, while market-wide earnings per share are projected to grow by around 19 per cent in 2026.
At MB Securities JSC (MBS), the firm has also set solid growth targets despite a potentially challenging environment.
According to MBS, the government is aiming for GDP growth of 10 per cent in 2026, while Resolution 79 on state economy development is expected to support market liquidity through divestments or initial public offerings (IPOs) of state-controlled enterprises.
In addition, large-cap state-owned enterprises already listed on the market are expected to have a positive impact on overall index performance.
“We expect the VN-Index to approach record highs in the first half of 2026, driven by the positive impact of Resolution 79 and expectations of passing the market upgrade review in March,” an MBS statement said.
For the second half of the year, however, the firm adopts a more cautious outlook, noting that a new interest rate environment could gradually affect market liquidity, while capital flows may partly shift towards production and business activities.
Taking a cautious stance amid rising interest rates, MBS targets revenue of $187 million, pre-tax profit of $74.0 million, and a minimum return on equity of 15 per cent. These figures imply growth of 28 per cent in revenue and 31 per cent in pre-tax profit.
LPBank Securities JSC (LPBS) has also set aggressive targets for this year.
In 2025, the firm sharply increased its charter capital from $155.5 million to $506.7 million, becoming one of the largest-capitalised brokerages in the market. Its net revenue reached $67.5 million, generating after-tax profit of $20.9 million.
For 2026, LPBS targets net revenue of $152 million and after-tax profit of $54.4 million. Both indicators represent strong growth, with the 2026 profit target increasing by more than 160 per cent compared to 2025.
Beyond profit targets, the company is also preparing for an IPO. Under the plan, LPBS intends to list on the market between the first and third quarters of this year, offering up to nearly 11.2 per cent of its outstanding shares, equivalent to 141,868 shares. The proposed IPO price is $1.2 per share.
Similarly, DNSE Securities JSC is targeting profit growth of more than 61 per cent.
Specifically, the plan to be submitted to the upcoming 2026 AGM on March 26 in Hanoi includes total revenue of $69.4 million and after-tax profit of $22 million, up 18.2 per cent and 61.7 per cent, respectively, compared to 2025.
Alongside this plan, DNSE also intends to implement employee stock ownership plans (ESOP), issue private convertible bonds, and issue non-convertible corporate bonds.
Meanwhile, An Binh Securities JSC (ABS) is pursuing higher financial targets alongside broader strategic initiatives.
In 2025, ABS recorded pre-tax profit of $8.8 million, up 67 per cent on-year. For 2026, this target has been raised to $24 million – nearly triple last year's figure.
ABS will also submit to shareholders a more ambitious capital-raising plan through two issuance rounds, including private placement and an employee stock ownership plan (ESOP), aiming to increase charter capital to over $120 million, approximately three times the current level. At the same time, the company is considering transferring its listing from the Unlisted Public Company Market to the Hanoi Stock Exchange to improve liquidity and attract investors.
According to ABS forecasts, the VN-Index in 2026 could surpass its 2025 peak and reach 1,940 points under a cautious scenario. Under a more optimistic scenario, the index could climb to between 2,040 and 2,188 points.
