Securities companies simultaneously reported a dramatic decrease in profits.

Most securities companies announced poor business results in the first quarter of this year, especially profits that dropped sharply by 80-90% compared to the same period last year. For example, MB Securities Joint Stock Company (stock code MBS) announced its business results for the first quarter of 2023 with revenue reaching VND 336 billion, down 45% compared to the same period last year. Of which, revenue from brokerage activities decreased by 64% to VND 93 billion. As a result, although operating costs also decreased significantly, MBS's after-tax profit decreased by 40%, down to VND 121 billion.

A series of securities companies reported sharp declines in profits.

Many large securities companies also reported a dramatic decrease in profits. Specifically, VNDirect Securities Corporation (code VND) recorded revenue in the first quarter of 2023 of VND 1,290 billion, down 27%. Revenue from securities brokerage alone reached VND 145.8 billion, down 68.4%. After deducting all expenses, the company reported a profit after tax of VND 140.5 billion, down 81.6% compared to the first quarter of 2022.

Securities companies' profits in the first quarter of 2023 decreased dramatically

Similarly, the total operating revenue of Vietcap Securities Joint Stock Company (formerly Ban Viet Securities) in the first quarter of 2023 reached more than VND 499.2 billion, down nearly 37% compared to the same period in 2022. Of which, securities brokerage revenue decreased by 75% to VND 89 billion. As a result, Vietcap reported a profit after tax decrease of 83% to VND 73.1 billion.

A series of other securities companies also recorded a sharp decrease in after-tax profits, such as Saigon - Hanoi Securities Joint Stock Company (code SHS) whose after-tax profit dropped 88% to VND40.9 billion, although revenue only decreased by 1%, reaching VND678.5 billion. In the first 3 months of the year, SHS had a net loss from selling financial assets of VND476.5 billion...

Or VIX Securities Joint Stock Company announced that its revenue in the first quarter of 2023 reached VND 272 billion, down nearly 40% compared to the same period last year. After deducting expenses, VIX's after-tax profit was VND 10.4 billion, evaporating nearly 95% compared to the profit of up to VND 268 billion in the first quarter of 2022...

Or Ho Chi Minh City Securities Corporation (code HCM) in the first quarter of 2023 achieved revenue of 630 billion VND, down 40% compared to the first quarter of 2022. All business segments from brokerage, consulting, lending interest... all decreased. As a result, HCM had a profit after tax of 123.7 billion VND, down more than 56%...

Source: https://thanhnien.vn/cong-ty-chung-khoan-dong-loat-bao-lai-giam-the-tham-185230425094325736.htm