Securities companies report record profits

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Securities companies report record profits on the back of impressive growth by the stock market. — Photo courtesy of VCSC

HCM CITY — Securities companies reported huge revenues and profits last year on the back of impressive growth by the stock market.

SSI Securities Corporation achieved revenues and pre-tax profits of VNĐ7.77 trillion (US$342 million) and VNĐ3.33 trillion ($146.57 million), increases of 71.7 per cent and 112.6 per cent from 2020.

Viet Capital Securities reported profit before tax of VNĐ1.85 trillion ($81.43 million) on net revenues of VNĐ 3.73 trillion ($164.18 million), 95 per cent and 115 per cent up.

Viet Dragon Securities Corporation said its revenues were 123 per cent up at nearly VNĐ1.04 trillion and pre-tax profit wasVNĐ 534.9 billion, 185 per cent up.

Agribank Securities Corporation and KB Securities Vietnam JSC and Tecom Securities also reported higher profits.

Despite being affected by the COVID-19 pandemic, the stock market saw a record year. The VN-Index repeatedly rose to new highs, market capitalisation rose sharply, liquidity continued to rise after starting in 2020, and the number of investors exploded.— VNS

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