Second quarter profit improves, ACBS still "slow" compared to yearly plan

ACBS's pre-tax profit in the second quarter of 2025 reached VND228 billion, up nearly 60% over the same period last year. However, due to the decline in the first quarter, ACBS is still far from its profit target for the whole year of 2025.

In the second quarter of 2025, ACB Securities Company Limited (ACBS) recorded after-tax profit of VND 187.9 billion, an increase of 61% over the same period last year.  

This result came from strong growth in many business segments, especially margin lending, holding-to-maturity investments and positive reversal of proprietary trading.

In the second quarter of 2025, ACBS's profit from FVTPL assets reached VND438.79 billion, up nearly 93% compared to VND227.99 billion in the second quarter of 2024. After deducting FVTPL loss expenses of VND418.5 billion and proprietary operating expenses of VND6.4 billion, ACBS earned VND14 billion from this activity. Previously, in the second quarter of 2024, ACBS's loss from FVTPL assets exceeded its profit, causing the company to lose more than VND15 billion in this activity.  

During the period, interest from held-to-maturity (HTM) investments also increased sharply, bringing in VND210.4 billion, up 89% over the same period last year. This investment has no cost, so it has become the largest contributor to ACBS's net profit.  

Interest from loans and receivables also increased by 61%, bringing in VND248.5 billion. However, ACBS is also making provisions of VND212.7 billion for loans receivable and borrowing costs of loans.  

In contrast to other activities, the securities brokerage segment this period only brought in 99.7 billion VND in revenue, down 10% compared to the second quarter of last year.  

As a result, ACBS's total operating revenue in the second quarter reached VND1,002 billion, up 64% over the same period. Pre-tax profit reached VND228 billion, up nearly 60%, contributing to the positive profit growth in the first 6 months after negative profit growth in the first quarter.

In the first 6 months of the year, ACBS achieved VND 1,755 billion in operating revenue and VND 409 billion in pre-tax profit, achieving 30% of the 2025 profit plan (VND 1,350 billion).

As of June 30, 2025, ACBS's total assets reached VND 33,857 billion, a sharp increase of 30% compared to the beginning of the year and exceeding the annual asset target (VND 32,850 billion).

Of which, loans increased by more than VND2,800 billion to VND11,508 billion and accounted for 34% of total assets. ACBS continued to increase the value of margin loans, with outstanding margin loans at the end of the second quarter at VND11,420 billion.

HTM investment portfolio increased by nearly VND4,000 billion, reaching VND15,483 billion. This is ACBS's largest investment, equivalent to nearly 48% of total assets. Of which, more than VND14,921 billion is term bank deposits, the rest is warrants.  

ACBS's FVTPL asset portfolio also increased significantly, up 57% compared to the beginning of the year to VND5,013 billion. However, the value of this securities company's stock investment decreased significantly, instead, there was a new bond investment in the first half of the year with a value of VND2,571 billion, equivalent to 51% of the FVTPL portfolio.

To finance this expansion, in the first half of the year, ACBS increased its charter capital from VND7,000 billion to VND11,000 billion, while raising total liabilities from VND16,789 billion at the beginning of the year to VND20,271 billion.  

Source: https://baodautu.vn/loi-nhuan-quy-ii-khoi-sac-acbs-van-chay-cham-so-voi-ke-hoach-nam-d336066.html