A number of securities companies reported profits growing several times in the third quarter.

After a sluggish period in the first half of the year, the stock market in the third quarter became vibrant again with outstanding liquidity averaging over 24,000 billion VND per session. In addition, the number of individual investors opening new accounts also continuously set new records for the year. Consequently, securities companies also recorded a prosperous quarter with growth rates several times higher at some companies.

First, VIX Securities Joint Stock Company (HoSE: VIX) recorded operating revenue of VND 323 billion in the third quarter, 1.8 times higher than the same period last year. The main source of revenue came from brokerage services, which increased by 44.2% to VND 9.5 billion. Simultaneously, revenue from lending and receivables also increased by 154% to VND 43 billion.

In addition, the profit from financial assets recognized through VIX's profit/loss also grew by 38.3% to VND 45 billion, along with a reduction in proprietary trading losses, helping VIX achieve a profit of VND 114 billion. Furthermore, the company also recorded an additional investment held to maturity (HTM) of VND 43 billion, while there was no such investment recorded in the same period last year.

In addition, a 7% reduction in operating expenses to VND 68 billion helped VIX achieve a net profit after tax that increased nearly 2.3 times compared to the same period last year, reaching VND 199 billion.

For the first nine months of the year, operating revenue and after-tax profit reached VND 1,283 billion and VND 775 billion respectively, representing increases of 35% and 87% compared to the same period last year. This is the highest nine-month result in the past 10 years. Compared to the achieved results, the company has fulfilled over 84% of its annual profit target.

VIX's total assets at the end of the third quarter reached VND 8,776 billion, with loans increasing from VND 1,793 billion to VND 2,491 billion. Margin lending outstanding reached VND 2,490 billion, a 48% increase compared to the beginning of the year.

In the third quarter of 2023, all of KIS Securities ' main business segments showed positive performance compared to the same period last year. Specifically, the company's operating revenue increased by 44%, reaching over 787 billion VND.

Key business segments also saw significant growth, with brokerage revenue increasing by over 80% to nearly VND 137 billion, and interest income from loans and receivables rising by 40% to VND 151 billion.

In addition, gains from financial assets recognized through profit/loss (FVTPL) amounted to VND 471 billion, an 81% increase compared to the same period last year. Although the company's proprietary trading losses increased by 30% to VND 408.6 billion, KIS still reported a profit of nearly VND 60 billion.

Regarding the company's total expenses, they only increased slightly by 22%, therefore, at the end of the third quarter, KIS Securities' after-tax profit was nearly 144 billion VND, six times higher than the figure for the same period last year.

For the first nine months of the year, the company's operating revenue reached VND 1,653 billion, a 16% decrease compared to the same period last year. However, due to a sharp reduction in operating expenses, after-tax profit still recorded a 2.5-fold increase to VND 328.3 billion.

As of September 30th, the company's total assets reached over 9,886 billion VND, a 13% increase compared to the beginning of the year. Of this, outstanding loans accounted for nearly 6,215 billion VND, an increase of nearly 1,300 billion VND compared to the beginning of the period.

According to the Q3/2023 financial report, FPT Securities Joint Stock Company (FPTS - HoSE: FTS) recorded VND 325 billion in revenue, a six-fold increase compared to the same period last year. This increase largely stemmed from the significantly positive performance of its proprietary trading segment.

Specifically, the profit from financial assets recognized through profit/loss (FVTPL) reached VND 101 billion, compared to a loss of VND 154 billion in the same period last year. This, along with the loss from FVTPL assets, helped FPTS achieve a profit of VND 99 billion from its proprietary trading activities.

Brokerage revenue also increased by 30%, reaching VND 99 billion. However, interest income from loans and receivables saw a slight decrease of 4% this quarter, falling to VND 115 billion.

FPTS's operating expenses also increased slightly by 36% to VND 94 billion, due to a significant provision for asset losses, amounting to VND 30 billion, a 73% increase compared to the same period last year. After deducting expenses, FPT Securities reported a net profit of VND 184 billion, compared to a loss of VND 60 billion in the same period last year.

For the first nine months of 2023, the company's operating revenue and after-tax profit reached VND 763 billion and VND 403 billion respectively, representing increases of 31% and 44% compared to the same period last year. With these results, FPT Securities has achieved 99% of its annual revenue target and exceeded its annual profit target by nearly 14%.

As of September 30th, FPTS's total assets stood at VND 7,313 billion, an increase of over VND 2,000 billion compared to the beginning of the year. Of this, margin lending accounted for nearly VND 4,009 billion, a 16% increase.

FPTS recorded financial assets recognized through profit/loss (FVTPL) exceeding VND 1,556 billion, a 45% increase compared to the beginning of the year. The portfolio mainly consists of fixed-term deposits and certificates of deposit with a principal cost of VND 1,016 billion.

In addition, the company also owns VND 120 billion in unlisted bonds and over VND 14 billion in listed shares. The largest holding in the stock portfolio is MSH shares of May Song Hong, with an original cost of over VND 13 billion and a current fair value of over VND 416 billion, equivalent to a profit of approximately 32 times. This is an investment that FPTS acquired many years ago.

In addition, the company also holds other unlisted shares of Construction and Investment Joint Stock Company No. 8 (CIC8) and bonds with codes CTG2230T2/01 and CTG2030T2/01.

Also showing positive growth, ACBS Securities recorded operating revenue of VND 558 billion in Q3/2023, a 2.6-fold increase compared to the same period last year. The company's after-tax profit reached VND 119 billion, a 440% increase compared to Q3/2022, equivalent to a 5.4-fold increase.

For the first nine months of the year, ACBS Securities achieved revenue and after-tax profit of VND 1,182 billion and VND 324 billion respectively, representing increases of over 18% and 45 times the figures for the same period last year .

Source