Saigon Securities Inc. reported strong growth in the third quarter despite the securities market correction, with profits surging 227 per cent to VND541.6 billion (US$23.16 million) and revenues by 53 per cent of VND958.8 billion ($41.01 million). Market liquidity was down by 19 per cent. Foreign investors accounted for only 19 per cent of the market, down from 21.5 per cent in the second quarter.
But SSI still managed to achieve good numbers and retained its leading brokerage position on both the HCM City and Hanoi stock exchanges by a big margin.
Revenues from brokerage went up by 32 per cent in the third quarter to VND222.59 billion. Revenues from investment banking also increased sharply to VND86.3 billion.
It won the “Best Bank in Vietnam for Equity Finance for Real Estate services” from Euromoney magazine.
Its pre-tax profits for nine months were VND1.41 trillion on revenues of VND3.064 trillion, year-on-year increases of 57.9 per cent and 55 per cent.
The company is confident of meeting its targets for the full year.