DNSE has announced its Q4 and full-year 2025 results, with multiple record highs. In 2025, revenue exceeded VND 1,467 billion, up 77% year on year; profit before tax surpassed VND 340 billion and profit after tax exceeded VND 272 billion, up 50% from 2024. Margin lending and advances to customers reached over VND 5,832 billion.
According to DNSE Securities’ Q4 2025 financial statements (Ticker: DSE), revenue reached VND 437.2 billion, up 81% year on year. Within the revenue structure, brokerage services recorded standout growth, generating VND 125 billion, up 217% compared with the same period last year, more than threefold.
Income from loans and receivables amounted to VND 155.9 billion, up 48%, while gains from financial assets at fair value through profit or loss (FVTPL) reached nearly VND 53 billion, surging 333% year on year.
Alongside revenue growth, outstanding margin loans and advance payment receivables hit a new record by the end of Q4 2025, exceeding VND 5,832 billion.
Total expenses in Q4 2025 were VND 425.6 billion, up 112% year on year. Brokerage-related operating expenses accounted for the largest share at nearly VND 150 billion, up 198%.
Pre-tax profit for Q4 2025 stood at VND 11.7 billion, while net profit reached VND 9.3 billion, down 72% compared with the same period in 2024.
According to management, most core business segments delivered positive growth in Q4 2025, reflecting effective business scale expansion and rising client trading demand. However, the decline in profit was mainly driven by provisions for the proprietary trading portfolio amid increasingly polarized market conditions, which heightened sector-specific volatility and risk.
(Source: DNSE).
