VCBS after-tax profits triple

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Vietcombank Securities earned VND94 billion (US$4.48 million) in after-tax profits in the first nine months of this year, tripling that of the same period last year.

Vietcombank Securities earned $4.5 million in after-tax profits in the first nine months of this year. — Illustrative photo bizlive.vn

HA NOI (Biz Hub) ─ Vietcombank Securities Joint Stock Company (VCBS) earned VND94 billion (US$4.48 million) in after-tax profits in the first nine months of this year, tripling that of the same period last year.

According to the latest VCBS business reports, after-tax profits reached nearly VND41 billion ($1.95 million) in the third quarter alone, quadrupling the third-quarter figure of 2013.

The company said that it managed to achieve the result by liquidating a part of its long-term investment portfolio. It reduced long-term financial investments to VND305.7 billion ($14.56 million) at the end of September, from VND509 billion ($24.24 million) at the beginning of 2014.

The total asset value of the firm expanded by nearly VND396 billion ($18.86 million) this year, reaching about VND2.27 trillion ($108.10 million) at the end of September. ─ VNS

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