Viet Capital Securities JSC (VCSC) plans to earn more than VND1 trillion (US44 million) in 2018 in pre-tax profit, an increase of almost 26 cent compared to last year, the company has announced.

It also plans to obtain revenue of VND1.7 trillion, up 11.6 per cent year on year. Operating expenses is expected to reach VND704 billion, down four per cent year-on-year. Shares offered for dividend payment is expected to worth VND1,500 per share.

Investment banking continues to be VCI’s core business and the company aims to secure the leading position in this segment.

Currently, VCI is executing many large business contracts with transactions worth more than VND40 trillion in banking, consumer goods, seafood, construction materials and real estate.

At the same time, VCI is currently also one of the top 10 brokerage firms with the highest market share.

According to VCI, in 2018 Vietnamese stock market will see the VN Index, Viet Nam’s benchmark stock index reaching 1,250 points, thanks to strong profit growth of listed companies, stable real estate market, strong exports and increased investment in energy and infrastructure projects. Besides high investor expectations for State divestment plans among many large State corporations in 2018 also creates the premise for growth of the VN-Index.

VCI expects the Government will continue to keep sticking with the divestment plan, which plays an important role in attracting capital and increasing the liquidity of Viet Nam’s stock market.

In 2017, VCI achieved VND1.4 trillion in revenue, up 77 per cent from 2016 and the highest revenue VCI had ever gained since its inception. In particular, the investment banking segment made a big contribution, up 280 per cent year-on-year thanks to large value transactions of its contracts, some of which were signed with large corporations like budget carrier Vietjet, Viet Nam Prosperity Bank and jewelry retailer Phu Nhuan Jewelry Joint Stock Company.

VCI earned after-tax profit of VND655 billion, the after-tax profit margin on equity reached 42.64 per cent. — VNS