The company operating the HoSE and HNX floors earned a profit of more than 2,000 billion VND.

Last year, the Vietnam Stock Exchange (VNX) recorded double-digit increases in revenue and net profit compared to the same period last year, reaching VND3,420 billion and VND2,090 billion, respectively.

Specifically, the financial report just released by VNX this weekend shows that last year's revenue increased by 66% compared to 2021. This result far exceeded the revenue target of 4% increase to VND 2,137 billion previously set by the board of directors.

The main source of revenue comes from securities trading services consolidated from two subsidiaries, the Ho Chi Minh City Stock Exchange (HoSE) and the Hanoi Stock Exchange (HNX). In addition, VNX also has revenue of more than VND110 billion from bank deposits.

After deducting business management costs, VNX's pre-tax profit was VND2,600 billion and after-tax profit was approximately VND2,090 billion, both one and a half times higher than the same period last year.

This result can be considered a breakthrough in the context of the strong fluctuations in the stock market in 2022, as shown by the VN-Index falling nearly 33% and the average trading value falling 22%. About 60% of VNX's revenue and profit were recorded in the first half of the year - a period when the stock market was vibrant with liquidity regularly reaching more than 30,000 billion VND per session and the index peaking at 1,528 points. In the second half of the year, liquidity plummeted with many trading sessions below 10,000 billion VND.

The leaders of HoSE - a company 100% owned by VNX - assessed that 2022 is a difficult year for the domestic stock market. Investor sentiment is negatively affected by the instability of the world economy, geopolitical conflicts, pressure to adjust interest rates to control inflation by the US Federal Reserve and violations of the law by many individuals and organizations participating in the market.

As of the end of last year, VNX had total assets of VND4,040 billion, down more than VND500 billion compared to the beginning of the year. More than half of the assets were both term and non-term bank deposits.

VNX was established at the end of 2020 and officially operated from mid-2021 under the parent company - subsidiary model with the goal of unifying the organizational model, mechanism, policies, development thinking and information technology infrastructure to serve the stock market. VNX currently has a charter capital of 3,000 billion VND, 100% owned by the Ministry of Finance representing the state.

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