Techcom Securities Joint Stock Company · HOSE:TCX
Techcom Securities Joint Stock — Q4 2025 Earnings Presentation
20 slides from Techcom Securities Joint Stock's earnings presentation, Jan 21, 2026
Slide 1: FY25 Earnings call
Techcomsecurities FY25 Earnings call Hanoi, January 21, 2026 1
Slide 2: Updates on Capital market, Business performance, 2026 Outlook
Section Section Section 01 Updates on Capital market 02 Business performance 4Q25 and FY25 03 2026 Outlook 2
Slide 3: Updates on Capital market
FY25 Earnings call Section 01 Updates on Capital market 3
Slide 4: 2025 Marked A Year of Robust Market Expansion
2025 Marked A Year of Robust Market Expansion 01 Market updates 2025 Equity market Corporate bond market and wealth distribution VND 6,575 trillion VND 227 trillion 2025 Equity trading value1 Corporate bond issuance2 Increase by +42% YoY Increase by +43% YoY VND 411 trillion VND 61 trillion Margin l
Slide 5: TCBS: Business performance 4Q25 and FY25
FY25 Earnings call Section 02 TCBS: Business performance 4Q25 and FY25 5
Slide 6: Record-breaking profit with contribution across all business segments
02 Business performance Record-breaking profit with contribution across all business segments Outstanding business results Sustained leading position #1 4Q25 FY25 Corporate bonds issuance advisory Issuance value reached VND 86Tn, +15% YoY Net operating income (VND Tn) 2.9 10.0 Leading In Bond Net op
Slide 7: Growth drivers came from across all business pillars
02 Business performance Growth drivers came from across all business pillars • 4Q25 and FY25 PBT grew 119% and 48% YoY respectively • All core businesses demonstrated substantial double-digit growth 4Q25 PBT Breakdown (VND Bn) 2,901 89 (203) 1,119 (657) 2,041 2,765 1,225 468 Investment banking Bond
Slide 8: Consistently leading the corporate bond issuance market over multiple years
1 02 Business performance Consistently leading the corporate bond issuance market over multiple years ▪ TCBS continued to maintain its leading position for 9 consecutive years from 2017 to 2025, contributing 35% and 36% of total revenue in 4Q25 and FY2025, respectively Quarterly corporate bond issua
Slide 9: Sustained momentum in wealth distribution
2 02 Business performance Sustained momentum in wealth distribution ▪ In 2025, bond distribution maintained steady growth ▪ Fund and structured product distribution grew strongly by 34%YoY with the introduction of Fundmart and new structured products such as iTracker Bond distribution value Distribu
Slide 10: Breakthrough in equity brokerage and margin lending
3 02 Business performance Breakthrough in equity brokerage and margin lending ▪ In 4Q25, TCBS's market share increased sharply to 9.0%, solidified its Top 3 position on HOSE and Top 2 on HNX ▪ Margin lending stood firmly at No.1 position in both balance and revenue ▪ FY2025 net income from margin le
Slide 11: Balanced growth in assets and equity, ensuring profitability and safety ratios
Balanced growth in assets and equity, ensuring profitability and safety ratios 02 Business performance ▪ Successful IPO in 4Q25 supported the growth and capital strength with Capital Adequacy Ratio of 491% (well higher than threshold of 260%) ▪ Following capital increases in 2025, TCBS continued to
Slide 12: Wealthtech model maintains CIR at 14% the lowest in the securities industry
02 Business performance Wealthtech model maintains CIR at 14% the lowest in the securities industry ▪ WealthTech model focuses on technology development and automation, leveraging AI application to drive operational efficiency. CIR has been consistently maintained at 14%, the lowest among industry p
Slide 13: Widely recognized by prestigious domestic and international organizations
Widely recognized by prestigious domestic and international 02 performance Business Recognized for excellence in Wealth Management & Advanced Techology applications organizations WEALTH TECH Best IPO in Vietnam and APAC Most Innovative Use of Technology – Blockchain 2025 2025 FChoice 2025 - IPO of t
Slide 14: 2026 Outlook
FY25 Earnings Call Section 03 2026 Outlook TCB Internal Document 14
Slide 15: FY26: Strengthen market leadership and ecosystem advantages
03 2026 Outlook FY26: Strengthen market leadership and ecosystem advantages FY24 FY25 FY26 Improve Stable Reduce Indicator Actual Actual Plan1 Analysis Bond issuance1 Strong growth expected as the SBV is set to grant conservative credit growth 75 86 quotas in 2026, supporting increased corporate bon
Slide 16: 2026 Key Focus
03 2026 Outlook 2026 Key Focus Action plan 1 New pioneer • Continuously delivery pioneer products such as the Fundmart platform, automated personalized asset products & allocation (e.g., iTracker), covered warrants, tokenized assets and structured products including synthetic businesses convertible
Slide 17: Thank you.
FY25 Earnings call Thank you. C o n t acts TechcomSecurities Hanoi Office Tran Duy Hung str., Floor 27,28,29 th D’Capitale Tower Yen Hoa ward, Hanoi TCBS_ir@tcbs.com.vn TCB Internal Document 17
Slide 18: TCBS' Key financial highlights in Q4/2025 and FY2025
TCBS’ Key financial highlights in Q4/2025 and FY2025 00 Appendix Business performance report Financial indicators (VND Bn) 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 QoQ YoY 2024 2025 YoY Net operating income 1,542 2,081 1,705 1,592 1,901 2,441 2,761 2,901 5% 82% 6,920 10,004 45% Securities brokerage a
Slide 19: Formula for calculating financial indicators
00 Appendix Formula for calculating financial indicators Indices Formula 𝑃𝐴𝑇 𝑓𝑜𝑟 𝑡ℎ𝑒 𝑐𝑜𝑛𝑠𝑒𝑐𝑢𝑡𝑖𝑣𝑒 4 𝑞𝑢𝑎𝑟𝑡𝑒𝑟𝑠 ROA (LTM) 𝐴𝑣𝑒𝑟𝑎𝑔𝑒 𝑡𝑜𝑡𝑎𝑙 𝑎𝑠𝑠𝑒𝑡𝑠 (𝑜𝑣𝑒𝑟 5 𝑙𝑎𝑡𝑒𝑠𝑡 𝑞𝑢𝑎𝑟𝑡𝑒𝑟𝑠) 𝑃𝐴𝑇 𝑝𝑜𝑠𝑡 𝑁𝐶𝐼 𝑓𝑜𝑟 𝑡ℎ𝑒 𝑐𝑜𝑛𝑠𝑒𝑐𝑢𝑡𝑖𝑣𝑒 4…
Slide 20: Disclaimer
Disclaimer The information in this presentation is being provided as a historical, reference source only and is not being used for, and nothing in this presentation constitutes an offer, invitation or recommendation to sell or issue, or any solicitation of any offer to purchase or subscribe for, sec
Techcom Securities Joint Stock Company — Q4 2025 Earnings Presentation on 6ix