Recently, MB Securities Corporation (HoSE: MBS) announced its business results for the third quarter of 2023, according to which the company's revenue this quarter increased by 25% over the same period to VND 539 billion, notably brokerage revenue increased by 42% to VND 214 billion, contributing the most to total revenue.
However, interest on loans and interest on financial assets recorded through profit and loss (FVTPL) reached VND185 billion and VND26 billion, respectively, down slightly by 2% and 18% compared to the same period last year. Only interest on investments held to maturity (HTM) had the strongest increase of 78% to approximately VND50 billion.
Along with revenue, MBS's operating expenses also increased by 14% to VND 173 billion, of which the largest proportion was brokerage costs at VND 151 billion, an increase of 23% compared to the third quarter of 2022.
After deducting all expenses, MBS reported after-tax profit in the third quarter of 2023 of VND 166 billion, an increase of 37% compared to the same period in 2022.
Accumulated for the first 9 months of the year, MBS's revenue and after-tax profit decreased by 18% and 7% to VND1,276 billion and VND411 billion compared to the same period last year.
Thus, compared to the results achieved in more than half of 2023, the company has completed 47% of the revenue target and 57% of the profit target for the whole year.
As of September 30, 2023, MBS's total assets increased slightly by 16% to VND 12,405 billion, with the largest proportion being financial assets at VND 11,487 billion, and proprietary trading activities alone had FVTPL asset value reaching nearly VND 1,012 billion, a slight increase of VND 45 billion compared to the end of the previous quarter.
Of which, listed stocks reached nearly 29 billion VND, an increase of more than 28 billion VND compared to the beginning of the year. The portfolio mainly holds stocks such as ACB, SSI, DIG, CTG, VCG, VND, etc., most of which are making profits or only slightly losing money. In addition, the company also owns an additional 810 billion VND in deposit certificates and nearly 201 billion VND in listed bonds.
MBS's financial assets held to maturity (HTM) recorded VND2,434 billion, an increase of more than VND200 billion compared to the beginning of the year, including more than VND1,000 billion in term deposits and VND666 billion in certificates of deposit.
At the same time, MBS holds more than VND1,764 billion in available financial assets for sale (AFS), an increase of more than VND300 billion compared to the beginning of the year, including VND118 billion in unlisted shares of Tan Cang Hiep Phuoc Port JSC, Petroleum Energy Technology Corporation, Ut Xi Seafood Processing, COECCO Rubber Industry, Viet Lotus, ... and VND1,331 billion in unlisted bonds.
In the loan section, the outstanding margin loans and sales advances at the end of the third quarter of MBS nearly doubled compared to the beginning of the year to more than VND 6,500 billion, of which the outstanding margin loans reached VND 6,367 billion.
According to the announcement from HoSE, in the third quarter, MBS rose to the top 5 securities companies with market share in brokerage transactions of stocks, fund certificates and covered warrants. Accordingly, the company achieved a market share of 5.09%, a slight improvement compared to 4.85% in the previous second quarter .
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