Securities company SSI sees surging growth

Securities company SSI sees surging growth

Saigon Securities Inc. (SSI) reported pre-tax profits of VND380.8 billion (US$ 16.7 million) on revenues of VND1.018 trillion ($44.8 million) in the fourth quarter of last year, up 344.7 per cent and 66.8 per cent year-on-year.

With this the whole year pre-tax profit rose 20.5 per cent to VND1.27 trillion on revenues of VND2.95 trillion, a 19 per cent rise.

The company has assets of VND18.24 trillion, up 34 per cent from a year ago.

Revenues from brokerage in the fourth quarter surged 263.7 per cent year-on-year to VND311.4 billion.

Revenues from lending and receivables (margin lending and advances on securities sales) contributed an important part of revenues, rising 37.4 per cent to VND150.8 billion, accounting for 32 per cent of securities services revenues.

The stock markets ended 2017 with the VNIndex up 48 per cent, the highest increase in 10 years, with average liquidity for each trading section rising to nearly VND5 trillion, a 63 per cent rise.

Last year was a successful year for SSI as it maintained the leading position on both HOSE and HNX, with its brokerage market share 15.26 per cent, up from 13.04 per cent in 2016.

Its HOSE market share was 17.97 per cent in the fourth quarter, its highest ever.

bizhub