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Banking & Finance

HSC records highest results ever in FY2018

Released at: 13:09, 26/01/2019

HSC records highest results ever in FY2018

Photo from ibrokervn.com

Best business results ever posted in 2018, despite completing just 83% of FY2018 target.

by Phi Linh

The Ho Chi Minh City Securities Corporation (HSC) has released its financial statements for the fourth quarter of 2018 and cumulative FY2018.

Revenue at the end of the fourth quarter reached VND402 billion ($17.3 million) and pre-tax profit VND89 billion ($3.8 million), down 40 per cent and 62 per cent, respectively, compared to the same period last year.

Cumulative net revenue for FY2018 was VND1.7 trillion ($73.3 million), up 23 per cent and representing 81 per cent of the 2018 target. Cumulative after-tax profit was VND675 billion ($29.1 million), an increase of 22 per cent and representing 83 per cent of the target approved at its annual general meeting last April.

Though reaching just 83 per cent of the FY2018 target, HSC recorded its highest business results ever, with net profit of VND675 billion ($29.1 million), which translates into an ROE of 23 per cent.

All business lines continued to grow. Brokerage again contributed a large portion of the revenue structure while other contributors saw positive changes. Cumulative brokerage revenue in FY2018 was VND759 billion ($32.7 million), up 26 per cent against last year and accounting for 45 per cent of total revenue.

Cumulative margin lending revenue in FY2018 reached VND523 billion ($22.5 million), an increase of 19 per cent and accounting for 31 per cent of the total revenue. Cumulative proprietary trading revenue in FY2018 rose slightly, to VND278 billion ($12 million). Cumulative corporate finance advisory revenue rose a substantial 164 per cent to VND119 billion ($5.1 million), thanks to the successful completion of several major deals. 

Earnings per share in FY2018 was VND5,214, up 22 per cent from VND4,289 in FY2017. Return on average assets (ROAA) and return on average equity (ROAE) reached 11.3 per cent and 23.1 per cent, respectively, compared to 10.8 per cent and 21.4 per cent last year.

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