Investors watch stock indices at Bao Viet Securities Company’s trading floor in Hanoi (Photo: VNA) Hanoi (VNS/VNA) - The sharp decline of the stock market in thefinal months of 2018 has had little impact on the yearly business results ofsecurities companies.
The VN-Index, Vietnam’s benchmark stock index, set an all-time peak of 1,211points in April 10 last year, but then suffered a sharp decline of 27 percent,to reach 888 points on October 30. The index continued to decline then hit asix-month low of 878.22 points on January 3.
In 2018, securities firms still saw rising profits. The 30 largest securitiescompanies in the market recorded pre-tax profit of nearly 9.4 trillion VND, up25 percent compared to 2017’s figure of 7.5 trillion VND.
The total profit of the 10 largest companies exceeded 7.4 trillion VND.
Of them, the three largest companies with biggest market shares, namely Sai GonSecurities Inc (SSI), Techcombank Securities (TCBS) and Viet Capital SecuritiesCompany (VCSC), totalled pre-tax profit of more than 4.2 trillion VND or about45 percent of total profit of securities firms in the market.
SSI earned 1.6 trillion VND, up 15 percent year-on-year. VCSC attained 1.02trillion VND, up 26 percent against 2017. HSC recorded 842 billion VND, up by22 percent compared to the previous year.
Some smaller companies recorded huge increases in profit like FPT SecuritiesCompany (FPTS), up by 149 percent to touch 543 billion VND, thanks to therevaluation of its investment in the Song Hong Garment JSC (MSH).
IB Securities Company (IBSC) saw profit surging by 162 percent while that of MBSecurities Company (MBS) soared 738 percent. Kis Viet Nam SecuritiesCorporation (KIS)’s profit rocketed by 1,184 percent. VPBank Securities Company(VPSC)’s profit climbed 75 percent.
Virtually not participating in the stock market, TCBS earned a lot from bonds,seeing profits up by 67 percent, from 917 billion VND to 1.53 trillion VND.TCBS’s 2018 revenue reached 1.87 trillion VND.
On the other side, VNDirect Securities Corporation, Sai Gon – Hanoi SecuritiesJSC (SHS), Bao Viet Securities Company, Thien Viet Securities JSC and ACBSecurities Company recorded lower profits.
VNDirect’s profit dropped 14 percent from 538 billion VND to 462 billion VND whileSHS’s profit decreased by 9 percent to reach 411 billion.-VNS/VNA
VNA
