Vietnam Stock Exchange pockets 6 billion VND every day

Vietnam Stock Exchange to hit record profit in 2024 as stock market surges.

According to the business results report, the Vietnam Stock Exchange (VNX) last year achieved a total revenue of more than VND 2,239 billion, an increase of 17% compared to 2023. Of which, the Ho Chi Minh City Stock Exchange (HOSE) contributed nearly VND 1,680 billion and the Hanoi Stock Exchange contributed nearly VND 519 billion. Operating revenue was almost the same as the previous year, reaching VND 2.6 billion while financial revenue decreased by 38%, to more than VND 38 billion.

Last year, despite a sharp increase, VNX's expenses were still kept at double digits, recording more than 34 billion VND. Accordingly, pre-tax profit still increased by 16% compared to the previous year, reaching approximately 2,205 billion VND and after-tax profit was nearly 2,204 billion VND. Accordingly, each day the Vietnam Stock Exchange earned a net profit of more than 6 billion VND.

Vietnam Stock Exchange records profit in 2024

PHOTO: NGOC THANG

Notably, this figure not only far exceeds the original plan but is also higher than the newly updated target according to the opinion of the Ministry of Finance - the State representative unit owning 100% of capital at VNX. Initially, VNX set a consolidated profit after tax target of VND 1,423 billion. However, thanks to the positive business situation, the company has completed 87% of the profit target after only half a year. Therefore, at the end of 2024, VNX strongly increased the profit target by 40% to VND 1,987 billion. Compared to this level, the actual result still exceeded the plan by 11%. This is also a record profit of the Vietnam Stock Exchange since its establishment.

VNX's outstanding business results were recorded in the context of the liquidity of the entire stock market continuing to maintain double-digit growth, mainly driven in the early stages of the year. Meanwhile, the number of securities accounts also increased sharply with more than 2 million newly opened accounts. By the end of 2024, the total number of securities trading accounts in the Vietnamese market reached about 9.3 million units. In total, the VN-Index also increased by 12% last year...