VN securities firms enjoy strong Q2 gains
After touching bottom in the first quarter of 2020 because of COVID-19, Vietnam’s stock market staged a strong comeback in the following quarter, allowing securities firms to enjoy sharp increases in both revenue and profit.
Illustrative image (Photo: VNA)
The HCM Securities Corp (HSC) reported more than 374 billion VND (16.28 million USD) in revenue and 150 billion VND in after-tax profit from April to June, up 13 percent and 36 percent, respectively, year-on-year.
Its net revenue stood at 679 billion VND in the first half, up 13 percent year-on-year and representing 52 percent of the annual plan, while after-tax profit amounted to 251 billion VND, up 30 percent and fulfilling 55 percent of the annual target.
The greatest expansion was seen in proprietary trading which generated 189 billion VND in revenue, up 145 percent year-on-year.
The company’s earnings per share (EPS) reached 822 VND and return on assets (ROA) and return on equity (ROE) 3.5 percent and 5.8 percent, respectively.
The SSI Securities Corporation (SSI) also posted impressive gains in the second quarter of the year, with total revenue jumping 85.5 percent to close to 1.38 trillion VND and pre-tax profit shooting up 172.4 percent to 651.7 billion VND compared to the same quarter last year.
At the end of the first half, the company had earned 660 billion VND in pre-tax profit, a year-on-year rise of 29 percent and fulfilling 76 percent of the annual plan.
The BIDV Securities Company (BSC), meanwhile, made a solid recovery in the second quarter after suffering a net loss of nearly 61 billion VND in the first.
Second-quarter revenue jumped 81.5 percent year-on-year to 256 billion VND, with earnings from brokerage services reporting the highest growth of 75.7 percent. Pre-tax profit hit 96 billion VND in the April-June quarter, or 3.5 times higher than a year earlier.
BSC plans to privately issue shares this year worth up to 53.85 percent of its charter capital for strategic and financial investors, to raise its capital to over 1.8 trillion VND./.VNA