VN-Index ended 2024 with an increase of more than 12% with low liquidity. Trading became more and more sporadic towards the end of the year. However, many securities companies still recorded strong profit growth.
Many securities companies have sharply increased their outstanding margin loans - Photo: QUANG DINH
Revealing the 2024 securities industry profit champion
Techcom Securities (TCBS) has 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, 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 ranking in 2024.
Notably, TCBS's margin lending and sales advance business achieved net income of more than VND695 billion, up 41% over the same period.
TCBS's outstanding margin loans at the end of 2024 reached nearly VND 26,000 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 KAFI Securities , operating revenue in the fourth quarter reached VND340 billion, double that of the same period last year. Meanwhile, operating expenses were VND115 billion, up more than 6.7 times.
KAFI's pre-tax profit in the last quarter of the year reached VND97 billion, up 28% over the same period. Accumulated in 2024, this securities company's pre-tax profit reached VND203 billion, 1.6 times higher than in 2023.
A very important contribution to KAFI's revenue is interest from loans and receivables at VND 260 billion, 3.7 times higher than in 2023.
At the end of 2024, KAFI's outstanding loans reached VND 5,322 billion, an increase of nearly VND 4,300 billion compared to the beginning of the year. This increase shows that KAFI has released a significant amount of money into the lending market.
Previously, KAFI Securities was an obscure company in the securities industry and often suffered losses. However, since the end of 2021, when VIB appeared, the company seemed to have "changed its skin". Net profit growth jumped from VND 19 billion in 2022 to VND 128 billion in 2023.
Many other companies reported profits of hundreds of billions.
A company with a bank behind it reporting a large profit is BIDV Securities (BSC) . The financial report for the fourth quarter of 2024 shows that BSC's operating revenue reached nearly VND316 billion, up 17% over the same period.
BSC's total operating expenses recorded in this period increased by 14%, to VND113 billion. After accounting for expenses, the securities company's pre-tax profit in the fourth quarter reached more than VND113 billion, up 41% over the same period.
In 2024, BSC's pre-tax profit reached VND516 billion, higher than the VND509 billion of the previous year. In the operating revenue structure, interest from loans and receivables brought in more than VND505 billion for BSC, up 13%.
At the end of the fourth quarter of last year, BSC's outstanding margin lending reached VND5,057 billion, an increase of more than VND911 billion compared to the beginning of the year.
Vietnam Joint Stock Commercial Bank for Industry and Trade (CTS) Securities also released its financial report for the fourth quarter of 2024. The report showed operating revenue of more than VND 302 billion, a slight decrease compared to the same period. However, for the whole year of 2024, CTS's total revenue still reached VND 1,201 billion, an increase of 5% compared to 2023.
After deducting expenses, CTS reported pre-tax profit of more than 73 billion VND, up 26% over the same period, and full-year profit of more than 287 billion VND, up 25%.
Like many securities companies with large loan balances, CTS's interest from loans and receivables last year was quite large, reaching nearly VND320 billion, up 26% over the previous year. The company's outstanding margin loan balance at the end of 2024 was nearly VND3,200 billion, up nearly 18% over the beginning of the year.
In the financial report for the fourth quarter of 2024, Agribank Securities (Agriseco) said that interest from loans and receivables reached more than 41 billion VND, an increase of 30% over the same period and nearly 3 times higher than income from securities brokerage.
During this period, Agriseco recorded a pre-tax profit increase of about 22% compared to the fourth quarter of 2023, reaching more than 54.3 billion VND. Accumulated for the whole year, this securities company reported a pre-tax profit of more than 168.5 billion VND, down nearly 9%.
MB Securities (MBS) also reported pre-tax profit of more than VND930 billion in 2024, up 30% year-on-year. Revenue increased in most business segments in the last quarter of the year, except for brokerage.
Source: https://tuoitre.vn/thi-truong-chung-khoan-nhu-hut-hoi-nhieu-cong-ty-chung-khoan-lai-bao-lai-lon-20250120182429847.htm
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