Taiwan's Yuanta Vietnam securities arm records 10% rise in Q2 net profit

Yuanta Securities Vietnam Limited Company, under Taiwan’s leading financial holding corporation Yuanta, posted VND34.16 billion ($1.35 million) in net profit in the second quarter of this year, up 10% year-on-year.

Since Q2/2023, the stockbroker’s quarterly net profit has remained stable at VND30-40 billion ($1.19-$1.58 million).

Yuanta Vietnam recorded VND170.1 billion ($6.72 million) in operating profit, up 21.1% year-on-year, and VND42.69 billion ($1.69 million) in pre-tax profit, up 5.23%, according to its Q2 earnings report.

The firm earned VND55.5 billion ($2.19 million) from stockbrokerage, up 40% year-on-year, and VND103.5 billion ($4.1 million) from margin lending income, up 59.6%. Meanwhile, earnings from held-to-maturity investments declined 73.3% to VND9.3 billion ($367,400).

Its Q2 operating costs rose 36% to VND91.59 billion ($3.62 million), mainly for brokerage as well as IT and workforce investment. The company also saw a 16.7% hike in corporate management costs to VND37.93 billion ($1.5 million).

In the half of this year, Yuanta Vietnam earned VND71.2 billion ($2.81 million) in net profit, up 41.42% year-on-year.

As of June-30, the business had total assets of VND5.55 trillion ($219.5 million), up 20% from the beginning of this year. Loans made up the biggest slice, with VND4.22 trillion ($166.9 million), up 38.3%.

Its liabilities jumped 52.64% to VND2.48 trillion ($98.17 million), of which short-term loans represented the largest share with VND2.4 trillion ($94.97 million).