As of the end of Q3 2025, the loan debt at securities companies is estimated at 383 trillion VND, up 80 trillion compared to Q2, marking a record high. Margin loan debt accounts for about 370 trillion VND, also a record in the history of Vietnamese securities with an increase of 78 trillion (about 27%). The stock market grew strongly, with liquidity reaching up to 3 billion USD. Leading securities firms saw significant loan debt increases, with VPBankS expanding its loans the fastest with an increase of nearly 9.3 trillion. Currently, 13 companies report loan debts over 10 trillion. While some firms like HSC and Mirae Asset faced difficulties, preparations for capital increase competition are underway; SSI plans to sell 415.5 million shares, while TCBS completed an IPO expected to raise 10.817 trillion VND. VPBankS also has IPO plans to increase capital.
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