Despite a market turbulence, KBSV (MSI) still posted positive business results in the first quarter of 2020
Despite a market turbulence, KBSV (MSI) still posted positive business results in the first quarter of 2020
KB Securities Vietnam JSC (KBSV) has just released its financial statements for the first quarter of 2020 with the revenue of VND132.6 billion ($5.77 million), up 88 per cent compared to the same period in 2019. Accordingly, business items in the first quarter have all grown against the same period of last year.
Despite difficult market conditions, KBSV had profit in quarter i.2020, new open account increases by 198 per cent compared to the last quarter of2019
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Specifically, the brokerage revenue of KBSV reached VND17.9 billion ($778,260), an increase of 15 per cent compared to the same period last year. Notably, profit from financial assets at fair value through profit or loss (FVTPL) was up VND23.5 billion ($1 million), 10 times more than in the same period last year.
For the margin segment, KBSV recorded profit from loans and receivables of more than VND49.2 billion ($2.14 million), up 42.8 per cent compared to the first quarter of 2019. This result is due to KBSV constantly offering promotions with attractive margins to customers such as KB Super Dream (0 per cent margin discount for the first 10 trading days) and KB Amazing (preferential transaction fee and margin interest for new customers).
By the end of the first quarter of 2020, KBSV reported a pre-tax profit of nearly VND43 billion ($1.87 million), up 72 per cent compared to the same period last year. Besides, according to HoSE, in the first quarter of 2020, KBSV officially entered the top 10 in bond brokerage market share, ranking second with 3.6 per cent. At the same time, with the launch of the KB-Amazing promotion and KB-Challenge contest, the number of new accounts opened at KBSV doubled on-quarter, reaching 198 per cent compared to the fourth quarter of 2019.
It can be seen that despite experiencing fluctuations in the stock market in the first quarter of 2020, KBSV still achieved positive business results and implemented its new technology system. Additionally, KBSV has been planning new development orientations and will continue to deploy service packages to thank and support customers such as KB-Joy (free derivative transactions for new customers) and KB-Thanks (refund of trading fee for online transactions).
