The stock market in the first quarter of 2024 was active and the cash flow for margin lending also increased sharply. This loan helped securities companies earn hundreds of billions of dong in profits.
SSI Securities Corporation announced its parent company's business results for the first quarter of 2024 with revenue reaching VND 1,945 billion, up 33% and pre-tax profit reaching VND 900 billion, up 53% compared to the first quarter of 2023. Of which, margin lending and sales advances alone achieved revenue of nearly VND 447 billion, up 32% over the same period last year. Notably, SSI's margin lending balance reached VND 16,957 billion, up 16% compared to the end of 2023.
Outstanding stock-backed loans of many securities companies increased sharply in the first quarter of 2024
VIX Securities reported that in the first quarter of this year, it achieved revenue of VND360.6 billion, up 32.6%, and after-tax profit of VND161.9 billion, 15.6 times higher than the same period last year. Explaining the results, VIX Securities said that the positive market developments along with the realization of the investment portfolio helped the company achieve a pre-tax profit from proprietary trading activities of VND100 billion compared to a pre-tax loss from proprietary trading activities in the previous period of VND22 billion. As of the end of March, the company's outstanding margin lending balance was a record high of VND4,159 billion, 2.7 times higher than the same period last year and up 38.3% compared to the beginning of 2024. This resulted in revenue from lending activities reaching VND115 billion, up 155% over the same period last year...
Similarly, Rong Viet Securities Company announced that the parent company's revenue reached VND 272 billion and after-tax profit was nearly VND 110.5 billion, double that of the same period last year. Most business segments grew. Of which, investment activities brought in revenue of VND 119 billion, 6 times higher than the same period; revenue from lending activities reached VND 89.3 billion, up 21.42%... In particular, outstanding margin loans by the end of the first quarter of 2024 reached more than VND 2,818 billion, up 28%.
Also posting high profit results, Bao Viet Securities Company recorded significant growth in all its main business segments. The company achieved operating revenue in the first quarter of 2024 of VND 236 billion, up 71% and profit after tax of VND 54.7 billion, double that of the same period last year. Of which, interest from loans and receivables increased by 71%, brokerage revenue doubled. The value of margin loans and sales advances increased by 20% after the first 3 months of the year, reaching VND 3,856 billion. Of which, margin loans increased by 15%, reaching VND 3,111 billion, which is also the highest margin loan figure the company has ever recorded.
Another unit, MB Securities Company, also recorded operating revenue in the first quarter of 2024 reaching 674 billion VND, double that of the same period last year. The average outstanding balance of margin and advance operations reached 9,388 billion VND. As a result, interest from loans and receivables reached 260 billion VND, 2.2 times higher than the same period last year. As a result, MBS reported a profit after tax of nearly 183 billion VND, an increase of 50% compared to the first quarter of 2023...
Source: https://thanhnien.vn/cho-vay-cam-co-co-phieu-tang-caocong-ty-chung-khoan-thu-lai-hang-tram-ti-dong-18524041909301637.htm
Comment (0)