# Vietnam's record corporate earnings surge 2026

> Live situation record from CLSTR: https://clstr.news/situations/vietnam-corporate-earnings-surge-2026
> Updated: 2026-07-27T03:46:37.000Z. Sources: 14. Developments: 2.

Following the May 2025 launch of the KRX‑operated trading platform, Vietnam’s broker‑dealers collectively paid about 14.3 trillion VND in taxes for 2025 – a rise of roughly 26 % year‑on‑year. The top fifteen firms, including ten private houses, three state‑bank subsidiaries and two Korean‑owned groups, supplied the bulk of the contribution, with market leader VPS alone accounting for 2.848 trillion VND (nearly one‑fifth).

In the same period, state‑owned oil‑refining company BSR posted a historic H1 2026 revenue of ~100,900 billion VND, 45 % higher than the previous year. The surge was driven by Brent crude averaging $93.5 per barrel, about 30 % above 2025, and by the Dung Quat refinery operating at 124 % of design capacity and processing over 4.05 million tonnes of products. BSR’s contribution to the state budget rose to 5.871 trillion VND, and the firm set a full‑year revenue target exceeding 154 trillion VND, though after‑tax profit is projected to fall 58 % YoY.

These data points reinforce a broader pattern of record corporate earnings across Vietnam’s financial and industrial sectors in 2026, reflecting the impact of market‑infrastructure reforms, favorable commodity prices and continued state‑driven operational efficiency.

## Claims

- On 5 May 2025 Vietnam launched a new trading platform operated by KRX, connecting exchanges, the central depository and the clearing house. (corroborated by 6 sources)
- Fifteen leading securities firms reported a tax contribution of about 14.300 trillion VND for 2025, an increase of roughly 2.946 trillion VND (≈26 %) over 2024. (corroborated by 6 sources)
- The top‑15 group includes ten private firms, three state‑bank subsidiaries (MBS, VCBS, BSC) and two Korean‑owned firms (KIS, Mirae Asset). (corroborated by 6 sources)
- VPS contributed 2.848 trillion VND, about 20 % of the total tax contribution. (corroborated by 6 sources)
- VPS held a market‑leading brokerage share of about 15.95 % on the Ho Chi Minh City Stock Exchange in 2025. (corroborated by 6 sources)
- The KRX platform's launch lifted daily trading volume to over 639 million shares, easing previous order‑flow congestion. (corroborated by 6 sources)

## Timeline

### 2026-07-27: BSR refinery in Vietnam posts record 100,900 billion VND revenue for H1 2026

Vietnam's BSR refinery posted a record 100,900 billion VND revenue in the first half of 2026, with production at 124 % capacity and Brent prices up 30 % YoY.

4 sources. https://clstr.news/cluster/vietnams-bsr-posts-record-1009-trillion-vnd-revenue-in-first-half-of-2026

### 2026-07-27: Vietnam's top securities firms pay record 14.3 trillion VND in taxes

Vietnam's new KRX platform debuted on 5 May 2025; 15 securities firms paid a record 14.3 trillion VND in taxes, with VPS contributing 2.8 trillion VND and holding a 15.9 % market share.

12 sources. https://clstr.news/cluster/vietnams-top-15-securities-firms-contribute-record-143-trillion-vnd-in-taxes

---
Cite as: Vietnam's record corporate earnings surge 2026. CLSTR, https://clstr.news/situations/vietnam-corporate-earnings-surge-2026