SSI Securities is among the largest securities houses in Vietnam, but the team doesn’t take its position for granted. Rather, it constantly finds way to stay relevant and offer value to its clients at a time of intense competition in the country’s securities industry.
While peers may resort to offering zero transaction fees to gain market share, SSI is differentiating itself by focusing on the quality of client service and advising high net-worth and mass-affluent clients on their investment choices.
Thanks to that, the $2 billion market capitalisation securities house has built a well-rounded franchise that is at the top of its league. SSI has a 16% share of the institutional securities market and a roughly 10% share of the retail and wealth management market.
Another differentiator: SSI has best-in-class teams across the franchise.
On research, for instance, SSI covers 85% of the total market cap of the Vietnam index, spanning 115-plus companies, and over 100 listed and over-the-counter traded companies. The team – with a staff of 22 – also partners with Hong Kong-based brokers to provide a comprehensive coverage of the Chinese market to interested clients.
Its investment banking business is also solid. During the awards period, SSI worked on a $20 million convertible bond for Hai An Transport and Stevedoring, a $402 million straight bond for Vietinbank, a $59.5 million public bond for Vingroup, a divestment of $109 million for Petrolimex and PG Bank and a $60 million put-through trade and public tender offer for PSA Cargo Solutions (Singapore).
Such credentials are increasingly being reflected in SSI’s financials. Between 2019 and 2023, SSI’s revenues grew at a compound annual growth rate (CAGR) of 22% and profits before tax at 27% CAGR. Of its $301 million in total revenues in 2023, 43% came from securities services, including the brokerage business.
