Business

SSI revenues rise by 38.8 percent in Q1

SSI Securities Corporation’s first quarter revenues were up 38.8 percent year-on-year to 975.75 billion VND (41.43 million USD), the corporation reported.
SSI revenues rise by 38.8 percent in Q1 ảnh 1SSI revenues rise by 38.8 percent in Q1 (Photo courtesy of SSI)


HCM City (VNS/VNA) - SSI Securities Corporation’s first quarter revenues were up 38.8 percent year-on-year to 975.75 billion VND (41.43 million USD), the corporation reported.

But profit before tax decreased sharply to only 15 billion VND.

SSI said the market fell by over 31 percent due to the impact of the Covid-19 pandemic, making Vietnam among the global markets with the sharpest drop.

Many of the 50 biggest stocks fell by an average of 30 percent, which has affected SSI’s investment portfolio which is now worth 3.4 trillionVND.

In that context, SSI has enhanced financial services and tweaked its portfolio by switching to bonds, and launched new products to offer more investment opportunities to customers.

Revenues from capital investment trading and financial services rose by 32 percent to 297 billion VND (12.6 million USD) and income from investment was worth 355.8 billion VND (15.1 million USD).

Revenues from securities services fell by 11 percent to 287.4 billion VND (12.2 million USD).

The company remained the top brokerage house with a 11.65 percent market share in the first quarter of the year./.

VNA
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