In the first half of the year, the Vietnamese stock market grew remarkably. The VN-Index closed at more than 1,376 points on June 30, up nearly 9% compared to the beginning of the year and the highest since 2022. Liquidity on the HoSE floor reached more than VND17,000 billion, up 26% over the same period last year.
Amidst the positive stock market developments, the business results of many enterprises in the industry are also relatively positive.
Techcom Securities Joint Stock Company (TCBS) reported a second-quarter profit of VND1,420 billion, up nearly 10% year-on-year. The increase in profit mainly came from a 19% increase in operating revenue, thanks to growth in margin lending and sales advances, brokerage activities and securities trading.
In the first half of the year, the company achieved a profit of nearly VND2,431 billion, up 9% over the same period last year. Up to this point, TCBS has the highest profit among the announced securities companies.
VIX Securities Joint Stock Company (stock code: VIX) also recorded a sharp increase in after-tax profit in the second quarter, up to nearly VND1,302 billion, more than 10 times higher than the same period. According to the company's explanation, the stock market in the second quarter increased positively, with the VN-Index reaching its highest level in more than 2 years. Following the trend, profit from financial assets recorded through VIX's profit/loss increased by VND2,056 billion compared to the same period.
Lending and receivables activities also increased sharply, with outstanding loans reaching VND9,281 billion, up 161%. Profits from this activity increased 81% over the same period.
Accumulated in the first half of the year, VIX's profit reached nearly 1,674 billion VND, nearly 6 times higher than the same period last year.
Or SSI Securities Corporation (stock code: SSI) announced its separate financial report for the second quarter with pre-tax profit reaching 1,144 billion VND. The company estimated consolidated results at 1,197 billion VND, achieving 53% of the yearly plan.
By the end of the second quarter, this company had outstanding margin loans and advances of more than VND33,134 billion, an increase of 51% compared to the beginning of the year.
Another company that also had a profit of thousands of billions was VPS Securities Joint Stock Company. In the first 6 months, the company achieved a profit after tax of 1,438 billion VND, an increase of 40% compared to the same period last year.
Many securities companies make big profits (Photo: Huu Khoa).
On the contrary, while the market is booming, many securities companies have seen their profits decline for various reasons. For example, HSC Securities Company (stock code: HCM) saw its second quarter profit decrease by 39%, reaching over VND192 billion.
The company explained the decline as being due to an improvement in its brokerage market share and maintaining its position in the top 5 at HoSE, but the average trading value of the stock market fell by more than 5%, causing brokerage revenue to fall by 8%. At the same time, proprietary trading results also fell by 38% due to a strong market correction that affected investment results.
Meanwhile, operating expenses increased by 35% compared to interest expenses increasing by 95% corresponding to the increase in margin revenue and in line with lending rates following market trends.
In the first half of the year, HSC Securities' after-tax profit decreased by 29% to VND419 billion. Brokerage revenue decreased by 15%, proprietary trading activities decreased by 35%, and operating expenses increased by 52%.
Similarly, FPT Securities Company (stock code: FTS) also saw its second quarter after-tax profit decrease by 62%, to nearly VND61 billion. The company explained that the reason was that profit from revaluation of financial assets decreased by nearly VND36 billion; borrowing costs for loans increased, causing total costs to increase by 32%.
In addition, securities brokerage revenue decreased due to the application of a policy to reduce transaction fees for investors.
Source: https://dantri.com.vn/kinh-doanh/cong-ty-chung-khoan-bao-lai-to-nho-thi-truong-len-dinh-20250721111928158.htm
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