VPBank Securities (VPBankS) outlined these plans in its 2026-2030 business strategy. The company, along with VPBank, intends to invest in cryptocurrency, commodity, and gold exchanges to diversify its product portfolio and enhance its adaptability to the global market. VPBankS is also strengthening collaborations with specialized artificial intelligence (AI) and blockchain technology companies to bolster its capabilities.
VPBankS, 99.9% owned by VPBank, operates in the securities sector and is expected to launch its initial public offering (IPO) later this year. With a charter capital of 15,000 billion VND, it currently ranks 4th in the market. VPBank previously announced it was finalizing procedures to obtain a license to operate a cryptocurrency exchange.
The VPBank group's interest in investing in cryptocurrency and gold exchanges comes as Vietnam introduces new policies related to these markets. The Vietnamese government has approved a pilot program for the cryptocurrency market for 5 years. To operate a cryptocurrency exchange, businesses must have a minimum capital of 10,000 billion VND, with at least 35% held by two institutions: banks, securities companies, fund managers, insurance companies, or technology firms.
Regarding the gold market, Decree 232, effective 10/10, abolished the state's monopoly on gold bar production. Now, regulatory bodies will grant licenses to qualified businesses and banks based on capital, technical infrastructure, and other criteria. Banks must have a charter capital exceeding 50,000 billion VND, while businesses need at least 1,000 billion VND.
In addition to entering new asset markets, VPBankS and VPBank plan mergers and acquisitions (M&A) or the establishment of new fund management companies to diversify revenue streams. They also aim to distribute fund certificates, manage assets, and undertake investment mandates.
VPBankS projects increasing its brokerage market share to 10% in the next 5 years, up from 2.9% this year. The company targets revenue of 29,051 billion VND by 2030, an 11.7-fold increase compared to last year. Pre-tax profit is projected to reach 17,520 billion VND, nearly 14 times the 2024 figure.
In the first half of this year, the company reported pre-tax profits of nearly 900 billion VND, an 80% year-on-year increase, placing it among the top 5 most profitable securities companies in the market. Total assets reached nearly 51,000 billion VND, ranking third in the industry.
Trong Hieu
