Illustrative image (Photo: VNA) HCM City (VNA) - After touching bottom in the first quarter of 2020 because of COVID-19,Vietnam’s stock market staged a strong comeback in the following quarter,allowing securities firms to enjoy sharp increases in both revenue and profit.
The HCMSecurities Corp (HSC) reported more than 374 billion VND (16.28 million USD) inrevenue and 150 billion VND in after-tax profit from April to June, up 13percent and 36 percent, respectively, year-on-year.
Its netrevenue stood at 679 billion VND in the first half, up 13 percent year-on-yearand representing 52 percent of the annual plan, while after-tax profit amountedto 251 billion VND, up 30 percent and fulfilling 55 percent of the annual target.
The greatestexpansion was seen in proprietary trading which generated 189 billion VND inrevenue, up 145 percent year-on-year.
Thecompany’s earnings per share (EPS) reached 822 VND and return on assets (ROA)and return on equity (ROE) 3.5 percent and 5.8 percent, respectively.
The SSISecurities Corporation (SSI) also posted impressive gains in the second quarterof the year, with total revenue jumping 85.5 percent to close to 1.38 trillionVND and pre-tax profit shooting up 172.4 percent to 651.7 billion VNDcompared to the same quarter last year.
At the endof the first half, the company had earned 660 billion VND in pre-tax profit,a year-on-year rise of 29 percent and fulfilling 76 percent of the annual plan.
The BIDVSecurities Company (BSC), meanwhile, made a solid recovery in the secondquarter after suffering a net loss of nearly 61 billion VND in the first.
Second-quarterrevenue jumped 81.5 percent year-on-year to 256 billion VND, with earnings frombrokerage services reporting the highest growth of 75.7 percent. Pre-taxprofit hit 96 billion VND in the April-June quarter, or 3.5 times higher than a year earlier.
BSC plansto privately issue shares this year worth up to 53.85 percent of its chartercapital for strategic and financial investors, to raise its capital to over 1.8trillion VND./.
VNA
