How did securities companies perform in Q3?

DNHN - In Q3 2024, many securities companies in Vietnam reported less than favorable business results, with revenue and profit declining compared to the same period.

One bright spot in this bleak picture is MB Securities Joint Stock Company (HNX: MBS). With operating revenue reaching 806 billion VND, MBS recorded an impressive growth of 50% compared to the same period last year. Net profit after tax also reached 179 billion VND, up 8%. For the cumulative nine months, MBS completed 85% of its revenue plan and 77.7% of its annual profit plan, demonstrating their proper preparation and strategy in dealing with market challenges.

However, compared to the previous quarter, MBS's profit decreased by 17%, showing the harsh reality of the current stock market. Revenue from the brokerage segment dropped 38% year-on-year, reaching only about 133 billion VND, prompting MBS to adjust its business strategy.

Bao Minh Securities Joint Stock Company (BMSC) was also not immune to the general trend. BMSC's operating revenue reached 81 billion VND, down 9% year-on-year. However, brokerage revenue and securities custody services saw strong growth, showing BMSC's adaptability in seeking new opportunities. Net profit after tax in Q3 reached nearly 34 billion VND, up 12% from the same period last year, marking a commendable success.

In contrast, Capital Securities Joint Stock Company (CASC) reported a 64% drop in total revenue, down to only 9.7 billion VND, mainly from securities custody activities. Despite the sharp decline in revenue, CASC still achieved a net profit of nearly 3.2 billion VND, reflecting their determination to cut costs and restructure the company's operations.

The business situation of KB Securities Vietnam Joint Stock Company (KBSV) was also not much better. Operating revenue reached nearly 224 billion VND, down 38% year-on-year. KBSV's net profit after tax fell 26% to 48.6 billion VND, due to lower trading volume and value. Revenue from brokerage activities was only about 54 billion VND, down 41% year-on-year.

Yuanta Vietnam Securities Limited also announced revenue of nearly 151 billion VND, down 8% compared to the same period. Operating costs did not change much, but the company still suffered a gross loss of over 8.5 billion VND from the brokerage segment.

In this context, securities companies are facing pressure from multiple sides. Most companies have identified the need to restructure and adjust strategies to adapt to the market. This could include enhancing value-added services, expanding products and services, as well as improving customer service quality.

Notably, Viet Dragon Securities Joint Stock Company showed the ability to maintain profitability despite the challenging environment. With total revenue reaching 232.9 billion VND, down 8.8% year-on-year, pre-tax profit recorded 90.1 billion VND. This indicates the ability to adjust strategy effectively to optimize profits.

The Q3 2024 business results of securities companies show a multi-dimensional picture: continuously increasing challenges, but also a few rare bright spots. In a volatile environment, companies will need to be more flexible, seeking opportunities in difficulties to sustain and grow in the future. Adaptability and innovation will be the key to helping them overcome this tough period.

Nghe Nhan