Vietnam’s securities firms are racing to raise capital and redefine their business models for the next growth cycle. Major players including SSI, VNDirect, Vietcap, and ACBS have announced plans to expand charter capital by up to 60%, aiming to strengthen balance sheets, increase margin lending, and invest in technology and asset management.
Analysts say the capital-raising wave marks a structural shift: brokerages are moving beyond traditional trading and margin services toward diversified financial platforms offering wealth management and investment products. Strategic partnerships — particularly with foreign investors — are expected to accelerate this transition as Vietnam’s market matures.
This article is a condensed and translated summary (original in Vietnamese, VN) of a feature published in the June 2024 issue of Bloomberg Businessweek Vietnam.