In the context of a vibrant market and increased liquidity, most securities businesses report flourishing earnings results in the third quarter.
The third quarter business results of securities businesses show that revenue and profits mainly come from brokerage, self-trading, and lending.
MB Securities Joint Stock Company (MBS) reported that total revenue in the third quarter reached more than 540 billion VND, up 24.7% over the same period last year. Pre-tax profit increased by 37.7% over the same period last year to total more than 208 billion VND.
Explaining the profit increase in the third quarter, MBS said that the value of stock transactions in the entire market increased sharply, helping stock brokerage revenue rise by 62.6 billion VND.
In nine months, MBS's revenue decreased by 18% to 1.27 trillion VND. Pre-tax profit and after-tax profit reached 515 billion VND and 411 billion VND respectively, both down about 7% compared to the same period in 2022.
In 2023, MBS plans to earn a total revenue of 2.7 trillion VND and a pre-tax profit of 900 billion VND. Therefore, the company has completed about 57% of the year's profit target.
VIX Securities Joint Stock Company (VIX) recorded a 143% increase in pre-tax profit in the third quarter, reaching 248 billion VND. Revenue reached 323 billion VND, an increase of 77%. In 9 months, this securities company had a pre-tax profit of 964 billion VND, up 90% over the same period last year.
Explaining the third-quarter profit growth, VIX Securities said the market transaction scale increased, causing profits from brokerage activities to rise by 44.2%. At the same time, lending and receivable income increased by 154%.
Third quarter pre-tax profit of Bao Minh Securities (BMS) doubled over the same period in 2022 thanks to self-trading revenue, reaching 89 billion VND, nearly equal to the same period last year.
The company reported a profit after tax of over 30 billion VND, double the same period last year.
In nine months, BMS recorded a profit after tax of 128 billion VND, while it suffered a loss of 16 billion VND in the same period last year.
Yuanta Securities Vietnam Limited Liability Company (YSVN) reported third-quarter revenue of 163 billion VND, up 12%.
Brokerage revenue also increased by 29%, recording 59 billion VND. In contrast, interest income from loans and receivables decreased by 23% over the same period in 2022.
Total operating costs increased by 14% to approximately 84 billion VND.
The company reported a pre-tax profit of more than 49 billion VND in the third quarter, an increase of 23% compared to the same period in 2022.
In 9 months, Yuanta's revenue decreased by 10% to 420 billion VND. Pre-tax profit and after-tax profit reached 114 billion VND and 90 billion VND, respectively, down 16% and 18% respectively compared to the same period in 2022.
Viet Dragon Securities Joint Stock Company (VDS) reported that pre-tax profit in the third quarter of 2023 rose by nearly 353%, reaching 113 billion VND.
In the nine-month period, VDS's total revenue reached 603.2 billion VND, equivalent to 92.7% of the same period in 2022 and completing 68.9% of the 2023 plan.
The company's expenses decreased significantly, recorded at 283.4 billion VND and only equalling 37.2% of the same period last year.
VDS's pre-tax profit in 9 months reached 319.8 billion, and profit after tax reached 252.8 billion VND, completing 118.4% and 117.1% of the 2023 plan, respectively.
Most businesses have recorded growth in revenue and profits, but there are also securities businesses that still report weaker business results due to ineffective cost management.
Agribank Securities Joint Stock Company (Agriseco) reported third-quarter revenue of nearly 100 billion VND, an increase of 18.3% compared to the third quarter of 2022.
However, increased management costs pushed Agriseco's total costs to 60.5 billion VND, an increase of 29%. This made the profit after tax only reach 26.7 billion VND, down 11.5% over the same period in 2022.
In nine months, total revenue reached 271.6 billion VND, almost flat compared to the same period in 2022. Profit after tax reached 112.4 billion VND, up 10.2%.