25.6 C
Ho Chi Minh City
Tuesday, June 25, 2024

Shifting business models amid market upswing

By Linh Trang

Must read

Undoubtedly, securities firms have benefited from stock market rallies, but they are undergoing significant shifts in their business models. Robust Q1 performance With the VN-Index having steadily picked up since late Q4 2023, securities companies are poised to release positive Q1 results. As of April 15, a number of securities firms have made public their financial statements for the first quarter of this year, including those with a surge in profit over the same period last year. MB Securities JSC (MBS) is a case in point, having reported nearly VND674 billion in January-March revenue, up by a staggering 101% over the preceding quarter. Pre-tax profit totaled VND230 billion, a 51% year-on-year rise. Its interest income from loans and receivables made up the largest share of revenue, at nearly VND260 billion, 2.2 times higher than in the same period last year. MBS’s outstanding loans by end-March reached VND9.87 trillion, with margin loans amounting to over VND9.27 trillion, a 9% increase in just three months. For 2024, MBS targets over VND2.78 trillion in revenue and VND930 billion in pre-tax profit, up by 53% and 36%, respectively, from 2023’s final figures. Remarkably, the company already realized nearly one-fourth of its 2024 profit goal […]
To read more, please click here.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest articles