SSI Securities Inc announces pre-tax profit 2 times higher than last year
SSI Securities Inc announces pre-tax profit 2 times higher than last year
SSI Securities Inc (SSI) has just announced pre-tax profit for the third quarter of 2023 reaching VNĐ880 billion, 2.1 times higher than the same period last year.
SSI's revenue reached VNĐ1.9 trillion, up 44 per cent over the same period last year. — Photo SSI |
Revenue reached VNĐ1.9 trillion, up 44 per cent over the same period last year.
Proprietary trading activities flourished when profit from selling FVTPL (fair value through profit and loss) assets increased sharply 73 per cent compared to the third quarter of 2022, reaching VNĐ765 billion. Brokerage revenue reached VNĐ535 billion, an increase of 58 per cent and accounting for the second largest proportion in the total revenue structure.
Interest from loans and receivables of SSI in the third quarter increased by 6 per cent over the same period last year to VNĐ431 billion.
Operating expenses also increased by 18 per cent to VNĐ653 billion, mainly due to brokerage costs recorded at VNĐ384 billion, equivalent to an increase of 33 per cent over the same period last year.
As a result, SSI's pre-tax profit in the third quarter of 2023 reached VNĐ880 billion, 2.1 times higher than the profit achieved in the third quarter of 2022.
In the first nine months of 2023, the company brought in VNĐ5.1 trillion in revenue, up 3 per cent over the same period last year. Pre-tax profit and after-tax profit reached VNĐ2.2 trillion and VNĐ1.78 trillion respectively, both up 21 per cent over the same period of 2022.
As of September 30, 2023, SSI's total assets reached VNĐ55.28 trillion, an increase of more than VNĐ3 trillion compared to the beginning of the year.
