Techcom Securities (TCX) Q4 2024 earnings summary

Executive summary

• Achieved profit before tax of VND 4,802 billion in 2024, up 59% year-over-year and exceeding the annual target by 30%.

• Maintained top profitability in Vietnam's securities sector for six consecutive years, with over 1 million customers and total assets of VND 53,244 billion, a 22% increase from 2023.

• Significant advances in digital transformation, leveraging AI, blockchain, and machine learning to enhance customer experience and operational efficiency.

Financial highlights

• Total revenue reached VND 7,642 billion, up 45% year-over-year; profit after tax was VND 3,850 billion, up 60%.

• Return on average equity (ROAE) at 15% and return on average assets (ROAA) at 8%, both improved from 2023.

• Cost-to-income ratio (CIR) reduced to 14% from 19% in 2023.

• Earnings per share (EPS) was VND 8,716.

• Equity capital exceeded VND 26 trillion after a successful rights issue and 55% cash dividend payout.

Outlook and guidance

• Aims to sustain revenue and profit growth, maintain financial safety ratios, and strengthen market leadership.

• Strategic focus on expanding digital product offerings, AI and data-driven solutions, and regional presence.

• Plans to introduce new investment products, enhance trading infrastructure, and leverage blockchain for transparency.