SSI targets 30% rise in profit after rip-roaring 2021

Monday, May 09, 2022 15:35

SSI Securities Corporation eyes 30 per cent growth in profit this year. — Photo courtesy of SSI

SSI Securities Corporation has set targets of VND10.33 trillion (US$448.67 million) in consolidated revenues and VND4.37 trillion ($189.49 million) in pre-tax profits this year, 31 per cent and 30 per cent up from 2020.

These and other important proposals were approved at its virtual annual general meeting last Saturday.

Nguyen Hong Nam, SSI’s CEO, said 2021 had been a record year with net revenues increasing by 72 per cent to VND7.78 trillion and profits by 60 per cent to VND 3.36 trillion.

The company managed to borrow $267.5 million worth of low-interest unsecured loans from foreign banks, he said.

The company has a positive view of the market in 2022, with prospects becoming clearer in the second half of the year after a cautious first six months.

He said the business targets for this year are challenging based on a more positive market scenario than in 2021.

Shareholders also approved a plan to issue over 104 million shares to shareholders through a private placement.

The money will be used to improve its underwriting, investment and margin lending capacity. — VNS

Comments (0)