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SSI revenues rise by 38.8 per cent in Q1
First quarter revenues were up 38.8 per cent year-on-year to VND975.75 billion (US$41.43 million), SSI Securities Corporation reported.
But profit before tax decreased sharply to only VND15 billion.
SSI said the market fell by over 31 per cent due to the impact of the Covid-19 pandemic, making Viet Nam among the global markets with the sharpest drop.
Many of the 50 biggest stocks fell by an average of 30 per cent, which has affected SSI’s investment portfolio which is now worth VND 3.4 trillion.
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 per cent to VND 297 billion ($12.6 million) and income from investment was worth VND355.8 billion ($15.1 million).
Revenues from securities services fell by 11 per cent to VND287.4 billion ($12.2 million).
The company remained the top brokerage house with a 11.65 per cent market share in the first quarter of the year.
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