Brokerage VNDirect posts fivefold profit rise

Brokerage VNDirect saw pre-tax profit in the first half surge five times year-on-year to VND1.14 trillion ($50 million), thanks to a rising number of new securities accounts.

An employee (L) helps a new investor register a security account at an office of VNDirect in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.

The Ho Chi Minh City-based company saw revenue rising 148 percent year-on-year to over VND2.15 trillion.

The board attributed the growth to rising stock prices with the benchmark VN-Index surging nearly 28 percent in the first six months.

Daily trading value in the second quarter was VND26.6 trillion, quadrupling year-on-year.

The company recorded 141,000 new accounts in the first six months, bringing the total to over 550,000.

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