05:55 (GMT +7) - Friday 20/07/2018

Banking & Finance

Bao Viet Securities' 2017 after-tax profit up 29.6%

Released at: 14:43, 17/04/2018 Vietnam golden dragon awards & Vietnam Excellent Brand Awards

Bao Viet Securities' 2017 after-tax profit up 29.6%

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Company sets 2018 revenue and after-tax profit targets of $22.1 million and $5.9 million, year-on-year increases of 4.18 and 9.44 per cent, respectively.

by Van Chi

The Bao Viet Securities JSC (BVSC)’s 2017 after-tax profit increased 29.6 per cent compared to 2016.

BVSC is one of the leading and most prestigious securities companies in Vietnam, providing professional financial and investment services for domestic and foreign individuals and institutions, investment funds and banks.

Established in 1999, with the Vietnam Insurance Corporation (currently known as Bao Viet Holdings) under the Ministry of Finance as its founder, BVSC inherited prestige and strength with a host of competitive advantages. Over the past 18 years, as the first securities company in the country, it has continuously improved its financial capacity and its services by developing modern information technology systems.

Vietnam’s stock market experienced spectacular growth in 2017. The VN-Index and HNX-Index rose by 48 per cent and 46 per cent, respectively, compared to 2016, while market liquidity on both the Ho Chi Minh Stock Exchange (HSX) and the Hanoi Stock Exchange (HNX) were up 72.3 per cent and 25.8 per cent, respectively. Such growth provides great opportunities for securities companies, including BVSC, to further develop.

During 2017, the second year in the five-year strategy for the 2016-2020 period approved by its annual general meeting in 2016, BVSC continued to offer comprehensive services and financial products, including professional services as a trusted advisor to its individual and institutional clients. By focusing on three key services - securities, investment banking, and capital and financial investment advisory services - it achieved its business targets in 2017, with growth up 33.7 per cent and revenue growth 47.2 per cent, resulting in after-tax income rising 10.7 per cent and 29.6 per cent, respectively, compared to the plan and the previous year.

In addition, as principal advisor in Asia’s largest deal - the State divestment of brewer Sabeco - BVSC’s brand was again strengthened in the market, picking up the “Outstanding M&A Advisory Firm” Award in 2011 and 2012 from the Securities Investment newspaper and the Ministry of Planning and Investment. Moreover, as a result of its significant capital efficiency and profitability ratios, the company was ranked among the leading firms providing well-managed solutions in both finance and risk management.

In 2018, with the government’s fiscal policies serving as a springboard for the stock market, BVSC has set revenue and after-tax profit targets of VND504 billion ($22.1 million) and VND134 billion ($5.9 million), year-on-year increases of 4.18 and 9.44 per cent, respectively.

Within brokerage, BVSC has held its position among the Top 10 securities companies by brokerage market share on HSX and HNX. Notably, it is among the three largest bond brokerage houses in the market.

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