Vietnam Exchange posts 2023 net profits of $77 mln

Vietnam Exchange (VNX), a wholly state-owned single-member limited liability company, reported net profits of VND1.88 trillion ($76.9 million) in 2023, down 10% year-on-year.

At a recent conference reviewing its 2023 performance and launching tasks for this year, VNX said its revenue of over VND1.92 trillion ($78.26 million) marked a year-on-year decrease of nearly 44%.

Almost all the revenue (97%), nearly VND1.86 trillion ($75.85 million), came from investments in the two subsidiary companies - the Ho Chi Minh Stock Exchange (HoSE) and the Hanoi Stock Exchange (HNX), at VND1.39 trillion and nearly VND462 billion, respectively. Its expenses plunged over 96% year-on-year to VND26.7 billion ($1.09 million).

By December 31, 2023, VNX's return on equity (ROE) reached 62.9% and its return on total assets (ROA) hit 55.7%. Its total assets were valued at VND3.38 trillion ($137.8 million), down more than 16.3% from the beginning of the year.

At the end of 2023, VNX's equity and liabilities stood at nearly VND3.39 trillion and VND387.5 billion ($13.76 million), respectively.

Established in February 2021, the VNX has a charter capital of VND3 trillion ($122.34 million).

It became an official member of the World Federation of Exchanges (WFE) in September 2023, marking an important step forward in international integration and cooperation, which, in turn, would contribute to promoting and attracting foreign investment in the domestic stock market.