SSI publishes the Separate Financial Statements for Quarter I. 2019
On 19 April 2019, SSI Securities Corporation (SSI - HOSE) announced its separate financial statements for Quarter 1.2019. By the end of the first quarter,
On 19 April 2019, SSI Securities Corporation (SSI - HOSE) announced its separate financial statements for Quarter 1.2019.
By the end of the first quarter, the Company recorded a total revenue of VND 702.9 billion, profit before tax of VND 239.8 billion. Expected consolidated profit for Quarter 1.2019 of SSI is VND 245 billion. The sectors that account for a large proportion of the Company's revenue structure including securities brokerage, margin lending & selling advances, capital trading & investment activities.
The market continued to lack clear supportive information and there were no major IPOs in Quarter 1.2019, resulting in a decrease in liquidity in the quarter, especially when compared to the same period in 2018 - a time when the market continuously sets new peaks and record trading volume. The total trading value of foreign investors decreased by 36.2% over the same period last year. Facing the movements of foreign investors and the quietness of the market, domestic investors also became more cautious. This is a tough business quarter for securities companies. In order to adapt to the situation, SSI always adhered to the sustainable development strategy, further affirming the leading position in the market with the market share of stock/ fund certificates brokerage reaching 13.78%. Revenue from Securities Services in Quarter 1.2019 reached VND 322.7 billion. Outstanding loans for margin reached VND 5,841 billion.
Credit rating of SSI continues to be affirmed in the financial market in the first quarter of 2019, the Company successfully completed a USD 55 million unsecured loan (equivalent to VND 1,280 billion) from a group of foreign financial institutions (headed by Taiwan SinoPac Bank). This is the first time a Vietnam Securities Company has been granted such large-scale credit in the form of unsecured loans. The loan of USD 55 million is seen as a way to diversify the loans of businesses to take advantage of competitive interest rates, in addition to mobilizing media via bonds. The principal will be used for highly secure short term investments, as well as disbursements for proprietary trading or margin lending at the appropriate time. Capital and Financial Business has become a major contributor to the Company's total revenue, accounting for 32% - reaching VND 224.9 billion, up 47% over the same period in 2018.
Investment Banking services revenue reached VND 9.1 billion in the first quarter of 2019, an increase of 75% compared to Quarter 1 of 2018. Investment activities recorded VND 146 billion in revenue.
As of March 31, 2019, the Company had an equity of VND 9,082.6 billion and total assets of VND 24,679 billion.
For detailed information about the report, see HERE
The company will conduct the Annual General Meeting of Shareholders at 13:30 pm on April 25, 2019 at Thong Nhat Meeting Hall - 135 Nam Ky Khoi Nghia, District 1, TP. HCM, Vietnam.
About SSI Securities Corporation (HOSE: SSI)
SSI Securities Corporation (SSI - HOSE) - established in December 1999 - is one of the pioneer companies at Vietnam stock market. Over 18 years of operation, SSI has become the largest financial institution in the market with a chartered capital of VND 5,100 billion, operating in major financial services including Retail Securities Services, Institutional Securities Services, Asset Management, Investment Banking, and Treasury. In 2018, SSI lie within the list of private and listed securities companies with Top highest scale of capitalization, total assets, profit as well as profitability of ROE in ASEAN region.
On December 18, 2018, the company officially changed its name from "Saigon Securities Incorporation" to the new name "SSI Securities Corporation" - unifying the company name with the abbreviation and stock code issued in the market. This is considered a necessary change, helping investors, especially foreign investors, easily identify the company's brand, in the context that SSI is one of the 40 most valuable brands in Vietnam, valued at USD 30.8 million. On the other hand, showing a professional image, aiming for further and greater development of the company in the future, not only in Vietnam market but also in the region as well as around the world.