SSI eyes highest profits among securities companies in 2021

Tuesday, May 25, 2021 08:00

The SSI annual general meeting held online last week. — Photo courtesy of SSI

SSI Securities Corporation targets revenues and pre-tax profits of VND 5.26 trillion (US$228.5 million) and VND1.87 trillion ($81.2 million) this year, the latter being the highest among listed securities companies.

They were approved at the company’s annual general meeting held online last week.

Shareholders also approved a number of other important proposals, including one to increase charter capital to VND11 trillion ($447.5 million) through a share issuance to expand operations, improve underwriting, investment and margin lending capacity, and provide better support to investors.

SSI already has the largest charter capital in the industry, VND6.498 trillion.

The stock market is expected to sustain the current upward trend this year as economic growth drivers remain the right track and monetary and fiscal policies continue to support economic growth, Nguyen Duy Hung, the company’s chairman, said.

Retail investors and ETF flows would boost market growth, he said.

In the first quarter of this year SSI’s pre-tax profits increased by 34 times year-on-year to VND528.2 billion ($22.9 million) on revenue of VND 1.503 trillion ($65.2 million).

Its consolidated revenues last year were VND 4.58 trillion ($199.1 million) and profit before tax was VND1.557 trillion ($67.7 million).

In 2020 its ETF SSIAM VNFIN LEAD, the first industry index fund in Viet Nam, achieved a return of 35.6 per cent. — VNS


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