With nearly 22,000 billion VND in loans, securities tycoon Nguyen Duy Hung's company earned thousands of billions

SSI Securities' outstanding margin loans reached more than VND 21,800 billion, an increase of 48.7% compared to the end of 2023. Accumulated for the whole year, SSI had VND 2,079 billion in margin lending revenue.

Outstanding margin loans at SSI increased sharply - Photo: QUANG DINH

SSI Securities Corporation, chaired by Mr. Nguyen Duy Hung, has just announced its separate financial report for the fourth quarter of 2024 with total revenue and pre-tax profit reaching VND 2,078 billion and VND 475 billion.

SSI also estimates that consolidated revenue in the fourth quarter will reach about VND2,259 billion, while pre-tax profit will reach VND547 billion.

A major contributor to SSI's overall business results was margin lending and sales advances, reaching nearly VND571 billion in revenue in the fourth quarter, up 30% year-on-year.

At the end of last year, SSI's margin lending balance reached more than VND 21,800 billion, an increase of 48.7% compared to the end of 2023. Accumulated for the whole year, SSI achieved VND 2,079 billion in margin lending revenue, an increase of 32.6% over the same period.

In the investment banking services segment, SSI recorded a revenue of only VND20 billion. This company mainly conducts consulting for equity and bond capital mobilization transactions.

Meanwhile, in the brokerage, custody and investment consulting business segment of SSI, revenue only reached 334 billion VND, down 14% over the same period.

Liquidity of the entire stock market in the fourth quarter decreased by more than 30% compared to the first 9 months of the year. This caused many securities companies to have a "headache" in the brokerage sector, SSI is no exception.

According to HoSE, SSI's market share in stock, fund certificate and covered warrant brokerage in the fourth quarter improved to 9.19%, up 0.35% compared to the previous quarter, continuing to maintain its position in the top 2 of the market. In the whole year of 2024, brokerage, custody and investment consulting services brought SSI VND 1,727 billion, up 10.3% over the same period.

Last year, this securities company estimated its total consolidated revenue to reach VND8,704 billion and pre-tax profit to reach VND3,536 billion, completing 107% and 104% of the plan approved by the 2024 shareholders' meeting, respectively.

How much profit does the securities company with the largest market share make?

In the HoSE securities brokerage rankings, right after SSI is Techcom Securities (TCBS).

TCBS has also just announced its business results for the fourth quarter of 2024. Accordingly, TCBS recorded VND933 billion in pre-tax profit in the fourth quarter, up 6% over the same period.

Closing 2024, the pre-tax profit of Techcombank's securities company reached more than VND 4,802 billion, up 59% compared to 2023, exceeding the annual plan by 23%. This is also the company temporarily leading the profit rankings in 2024, although its brokerage market share is only in the top 3.

Notably, TCBS's margin lending and pre-sale cash advance business achieved net income of more than VND695 billion, up 41% year-on-year. TCBS's margin lending balance at the end of 2024 reached nearly VND26,000 billion, up 2% over the previous quarter but 1.5 times higher than at the end of 2023.

Thanks to that, in 2024, TCBS will achieve more than VND 2,500 billion in net income from lending, an increase of 65% compared to 2023.

At VPS Securities - the "champion" company in terms of brokerage market share on HoSE, total operating revenue in 2024 reached VND 6,466 billion, an increase of less than 2% compared to the previous year.

However, due to a sharp decrease in interest expenses and a sharp increase in other investment revenue, VPS's pre-tax profit reached VND 3,156 billion, 3.8 times higher than in 2023.

Source: https://tuoitre.vn/co-gan-22-000-ti-dong-cho-vay-cong-ty-trum-chung-khoan-nguyen-duy-hung-thu-ve-nghin-ti-2025012108484008.htm