The "fierce" race for market share among securities companies
- 0
- Enterprise
- 10:28 10/10/2024
DNHN - The Ho Chi Minh City Stock Exchange (HoSE) has just announced the third quarter trading market share, revealing the fierce competition in the securities industry.
However, this change is not the only noteworthy point. VNDirect, one of the big names in the industry, has witnessed a significant decline in market share, dropping to 6th place with 5.7%. This situation reflects a multifaceted picture of the shifting Vietnamese stock market amidst numerous challenges and opportunities.
Vietcap Securities Joint Stock Company experienced a difficult period from 2021 to 2023 as their market share gradually fell towards the bottom of the rankings. This period saw fierce competition from other companies, especially as the Covid-19 pandemic caused strong shifts in people's investment behaviors. According to Mr. Tô Hải, General Director of Vietcap, the company failed to recognize the rising trend of individual investors, leading to a market share drop to around 4%.
However, with a clear awareness of past strategic mistakes, Vietcap has adjusted its direction. The company is not only focusing on institutional customer consulting but also seeking to attract individual investors to better meet market demand. Clearer marketing campaigns and customer support systems are being implemented, showing positive improvements in Vietcap’s market share, bringing them back into the top 4.
While Vietcap shows signs of recovery, VNDirect faces difficulties as it drops to 6th place. Their market share is now only 5.7%, much lower than the 7-8% range of the past few years. The main reason for this decline is believed to be the aftermath of a cyberattack in March, which "froze" investor accounts for a long time. This not only impacted VNDirect’s reputation but also led to customer frustration.
Although VNDirect still maintains a large customer base and offers diverse services, this incident has raised concerns about the company's security capabilities and reliability in the eyes of investors. To recover, VNDirect needs stronger strategies to regain customer trust.
In the current competitive landscape, VPS Securities Joint Stock Company continues to hold the leading position with a market share of 17.63%. VPS has proven its stability and adaptability to market fluctuations. Additionally, SSI Securities Joint Stock Company is equally prominent with a market share of 8.84%.
SSI has built a strong brand in the minds of investors thanks to its diverse product offerings and timely market information. This has helped SSI maintain a loyal customer base while also attracting many new investors.
Third place belongs to Techcom Securities Joint Stock Company (TCBS) with a market share of 7.09%. TCBS has made smart moves in developing online service products to meet the increasing demand of investors. Their easy-to-use trading platform and effective advisory services have helped TCBS assert its position in the market share race.
One of the important trends in the securities industry today is the increase in the number of individual investors. The Covid-19 pandemic has driven many people to shift towards stock investment as a way to increase income. This has led to a significant change in investment behaviors, requiring securities companies to quickly adapt to meet the needs of this target group.
Both Vietcap and VNDirect are clearly aware of this trend and are adjusting their strategies. Vietcap has begun implementing marketing campaigns to attract individual investors, while VNDirect needs to restore its reputation to avoid being left behind.
The third quarter market share of securities companies shows a strong transformation amidst fierce competition. Vietcap is striving to recover and return to the top 4, while VNDirect faces numerous challenges to overcome. VPS, SSI, and TCBS are maintaining their solid positions, proving their stability and ability to meet market demands.
These changes not only reflect competition among companies but also demonstrate the development and maturation of Vietnam's securities industry. To survive and grow, securities companies must continuously innovate, improve service quality, and quickly respond to the needs of investors, especially in this challenging period of transformation.
Nhan Ha Phan
Related news
#competitive market
Hanoi leads in digital transformation: Targeting 50% reduction in costs and administrative procedures
On the morning of June 28, Hanoi held a conference to review the first six months of 2024 in implementing Project 06, evaluating the trial results of electronic health records and issuing judicial records via the VNeID application
Digital transformation in logistics: Key for competition in 42-billion-USD market
Vietnam’s logistics market is worth around 40-42 billion USD a year, and digital transformation among businesses is considered key to their success in this competitive market.
Đọc thêm Enterprise
Consumer finance companies are recovering
After a tough year, the consumer finance market is showing strong recovery in the first half of this year, reflecting improved business performance by companies in the sector.
Two land rent reduction plans proposed to support businesses
The Ministry of Finance has recently submitted a draft decree to the Government proposing a reduction in land rent for 2024, aiming to stimulate production and business activities. The two proposed plans suggest a reduction of either 15% or 30%.
Small and medium enterprises have many advantages for green transition to access EU market
In an interview with the Business and Integration Magazine, Mr. Vu Ba Phu, Director General of the Trade Promotion Agency, highlighted that SMEs possess numerous advantages in the green transition, digital transformation to access the EU market.
Real estate businesses and macroeconomic challenges
The year 2024 marks a challenging period for real estate businesses, not only in Vietnam but also worldwide.
VINASME and VISA collaborated to promote financial solutions for small and medium-sized enterprises
On September 10th, at the Government Office Conference Center, the VINASME and the international card organization VISA will co-host a seminar titled "Payment and Financial Solutions for Small and Medium-sized Enterprises".
Hòa Phát Group leaders receive major pay hike during steel market crisis
Although the global steel industry is experiencing a crisis, Hòa Phát recorded a sharp increase in executive remuneration in the first half of 2024, with costs rising 3.4 times compared to the same period last year, reaching VND 112 billion.
Ho Chi Minh City: Economic recovery, yet the number of businesses exiting the market remains high
In the first eight months of the year, the number of businesses entering the market increased by 8.8%, but the number of businesses withdrawing also rose by 7.4%.
Businesses are the main actors and the greatest drivers of innovative startups
Dr. Đàm Quang Thắng – Chairman of the National Innovation Advisory Council has provided deep insights into the role of businesses within the innovative startup ecosystem.
General Secretary and President Tô Lâm: "Although it is a small and medium-sized business community, it is very large..."
On the afternoon of August 22, General Secretary and President Tô Lâm received a delegation of the Vietnam Association of Small and Medium Enterprises. This important and meaningful event was organized by the Business and Integration Magazine.
BIDV financed the construction of Cap Saint Jacques Complex in Vũng Tàu City
The signing ceremony for the credit contract to finance the project was organized by BIDV and the Development Investment Construction Joint Stock Corporation (DIC) — the project's investor — in Ho Chi Minh City on August 19, 2024.
