MBS's second quarter profit decreased, margin debt reached a record high

The first securities company to announce its financial report for the second quarter of 2025 is MB Securities Corporation (MBS).

MBS's performance report shows that in the second quarter of 2025, the securities company's operating revenue reached VND 792.3 billion, down 10% over the same period last year.

The decline in operating revenue was mainly due to the impact of the proprietary trading segment. Profits from financial assets recorded through FVTPL profit and loss decreased by 49% in the second quarter, bringing in VND172.8 billion. This made profits from proprietary trading no longer the main contributor to operating revenue for MBS.  

Instead, interest from loans and receivables brought in VND308.8 billion, equivalent to nearly 39% of total operating revenue and up 18% year-on-year and up 11% compared to the previous quarter.  

Along with that, profit from securities brokerage also increased by 7%, reaching 191.9 billion VND. The brokerage market share report on all 3 exchanges shows that MBS is making efforts to increase its market share. On the HoSE, MBS's market share in the second quarter of 2025 reached 5.39%, up from 5.19% in the first quarter and still maintaining its position in the Top 7. On the Hanoi Stock Exchange (HNX), MBS's market share reached 6.27%, down slightly compared to the first quarter but still higher than the 5.44% in 2024.  

Although Q2 revenue decreased by 10%, operating expenses in this period also decreased significantly thanks to losses from selling FVTPL financial assets decreasing by more than half.  

Thanks to that, MBS's after-tax profit in the second quarter of 2025 reached VND 221 billion, down only 2% compared to the same period last year.  

In the first 6 months of the year, MBS achieved VND 1,461 billion in operating revenue and VND 490 billion in profit after tax, an increase of 22.8% in profit compared to the first half of 2024.  

Compared to the target of total revenue of VND3,370 billion and pre-tax profit of VND1,300 billion this year, MBS has achieved 47% of the annual profit plan.  

As of June 30, 2025, MBS's total assets were VND25,551 billion, an increase of more than VND3,400 billion compared to the beginning of the year. Of which, loans accounted for VND12,795 billion, equivalent to 50% of MBS's total assets. MBS's outstanding margin loans are currently at VND12,633 billion, an increase of 25%, equivalent to more than VND2,500 billion compared to the beginning of the year, and are at their highest level ever.  

In addition, more than VND 3,126 billion is in financial assets recorded through profit and loss, mainly other valuable papers (VND 1,560 billion, double the beginning of the year) and Bonds (VND 1,011 billion).

Source: https://baodautu.vn/mbs-giam-loi-nhuan-quy-ii-du-no-margin-cao-ky-luc-d325896.html