Securities companies report record profits

Securities companies reported huge revenues and profits last year on the back of impressive growth by the stock market.

SSI Securities Corporation achieved revenues and pre-tax profits of VND7.77 trillion (US$342 million) and VND3.33 trillion ($146.57 million), increases of 71.7 per cent and 112.6 per cent from 2020.

Viet Capital Securities reported profit before tax of VND1.85 trillion ($81.43 million) on net revenues of VND 3.73 trillion ($164.18 million), 95 per cent and 115 per cent up.

Viet Dragon Securities Corporation said its revenues were 123 per cent up at nearly VND1.04 trillion and pre-tax profit wasVND 534.9 billion, 185 per cent up.

Agribank Securities Corporation and KB Securities Vietnam JSC and Tecom Securities also reported higher profits.

Despite being affected by the COVID-19 pandemic, the stock market saw a record year. The VN-Index repeatedly rose to new highs, market capitalisation rose sharply, liquidity continued to rise after starting in 2020, and the number of investors exploded.— VNS