Securities businesses enjoy flourishing Q3 earning results
In the context of a vibrant market and increased liquidity, most securities businesses report flourishing earning results in the third quarter.
In the context of a vibrant market and increased liquidity, most securities businesses report flourishing earnings results in the third quarter.
The third quarter business results of securities businesses show that revenue and profits mainly come from brokerage, self-trading, and lending.
MB Securities Joint Stock Company (MBS) reported that total revenue in the third quarter reached more than VNĐ540 billion, up 24.7 per cent over the same period last year. Pre-tax profit increased by 37.7 per cent over the same period last year to total more than VNĐ208 billion.
Explaining the profit increase in the third quarter, MBS said that the value of stock transactions in the entire market increased sharply, helping stock brokerage revenue rise by VNĐ62.6 billion.
In 9 months, MBS's revenue decreased by 18 per cent to VNĐ1.27 trillion. Pre-tax profit and after-tax profit reached VNĐ515 billion and VNĐ411 billion respectively, both down about 7 per cent compared to the same period in 2022.
In 2023, MBS plans to earn a total revenue of VNĐ2.7 trillion and a pre-tax profit of VNĐ900 billion. Therefore, the company has completed about 57 per cent of the year's profit target.
VIX Securities Joint Stock Company (VIX) recorded a 143 per cent increase in pre-tax profit in the third quarter, reaching VNĐ248 billion. Revenue reached VNĐ323 billion, an increase of 77 per cent. In 9 months, this securities company had a pre-tax profit of VNĐ964 billion, up 90 per cent over the same period last year.
Explaining the third quarter profit growth, VIX Securities said the market transaction scale increased, causing profits from brokerage activities to rise by 44.2 per cent. At the same time, lending and receivable income increased by 154 per cent.
Third quarter pre-tax profit of Bảo Minh Securities (BMS) doubled over the same period of 2022 thanks to self-trading revenue, reaching VNĐ89 billion, nearly equal to the same period last year.
The company reported a profit after tax of over VNĐ30 billion, double the same period last year.
In 9 months, BMS recorded a profit after tax of VNĐ128 billion, while it suffered a loss of VNĐ16 billion in the same period last year.
Yuanta Securities Vietnam Limited Liability Company (YSVN) reported third-quarter revenue of VNĐ163 billion, up 12 per cent.
Brokerage revenue also increased by 29 per cent, recording VNĐ59 billion. In contrast, interest income from loans and receivables decreased by 23 per cent over the same period in 2022.
Total operating costs increased by 14 per cent to approximately VNĐ84 billion.
The company reported a pre-tax profit of more than VNĐ49 billion in the third quarter, an increase of 23 per cent compared to the same period in 2022.
In 9 months, Yuanta's revenue decreased by 10 per cent to VNĐ420 billion. Pre-tax profit and after-tax profit reached VNĐ114 billion and VNĐ90 billion, respectively, down 16 per cent and 18 per cent respectively compared to the same period in 2022.
Việt Dragon Securities Joint Stock Company (VDS) reported that pre-tax profit in the third quarter of 2023 rose by nearly 353 per cent, reaching VNĐ113 billion.
In 9 months, VDS's total revenue reached VNĐ603.2 billion, equivalent to 92.7 per cent of the same period in 2022 and completing 68.9 per cent of the 2023 plan.
The company's expenses decreased significantly, recorded at VNĐ283.4 billion and only equalling 37.2 per cent of the same period last year.
VDS's pre-tax profit in 9 months reached VNĐ319.8 billion, profit after tax reached VNĐ252.8 billion, completing 118.4 per cent and 117.1 per cent of the 2023 plan, respectively.
Most businesses have recorded growth in revenue and profits, but there are also securities businesses that still report weaker business results due to ineffective cost management.
Agribank Securities Joint Stock Company (Agriseco) reported third-quarter revenue of nearly VNĐ100 billion, an increase of 18.3 per cent compared to the third quarter of 2022.
However, increased management costs pushed Agriseco's total costs to VNĐ60.5 billion, an increase of 29 per cent. This made the profit after tax only reach VNĐ26.7 billion, down 11.5 per cent over the same period in 2022.
In 9 months, total revenue reached VNĐ271.6 billion, almost flat compared to the same period in 2022. Profit after tax reached VNĐ112.4 billion, up 10.2 per cent. — VNS
