This securities company has established a series of 5 consecutive quarters of increased profits compared to the previous quarter.
MB Securities Joint Stock Company (code MBS) has just announced its separate financial report for the first quarter of 2024, thereby becoming the first name in the group to reveal financial and business data for the first quarter of 2024. This is also a in the earliest quarterly financial statements announcements since the end of the reporting period recorded in the securities group.
Accordingly, in the first quarter of 2024, MBS recorded growth in most main business segments, operating revenue reached 674 billion VND, an increase of 101% over the same period last year. Pre-tax profit reached 230 billion VND, an increase of 51% compared to the same period in 2023.
Net profit was nearly 183 billion VND, an increase of 51% compared to the first quarter of 2023 and was the 5th consecutive quarter in which profits increased compared to the consecutive quarter. before.
In the first quarter of the year, interest from loans and receivables was still the largest contributor with nearly 260 billion VND, nearly 2.2 times higher than the same period last year. As of the end of the first quarter of 2024, MBS's outstanding loans amounted to 9,870 billion VND, of which margin loans were more than 9,274 billion VND, an increase of 755 billion (9%) after only 3 months.
MBS's brokerage segment in the first quarter also continued to prosper with revenue reaching more than 185 billion VND, nearly double the same period last year. The company said that the value and volume of securities transactions in the entire market increased nearly 2 times over the same period, plus MBS's brokerage market share increased compared to the same period in 2023, helping brokerage revenue improve significantly.
The self-employment segment is also relatively effective. Gains from financial assets recorded through profit/loss (FVTPL) increased 106% to VND 140 billion; Profit from held-to-maturity (HTM) investments increased 19% to VND 43 billion; and profits from available-for-sale financial assets (AFS) more than 5 times to VND 31 billion.
At the end of the first quarter of 2024, MBS's FVTPL item had a market value of nearly 1,149 billion VND, a slight increase compared to the beginning of the year, mainly listed bonds (648 billion), unlisted fund certificates (373 billion VND). Billion). The company also has a deposit of more than 2,669 billion VND in the form of HTM.
AFS items as of January 31, 2024 are mainly unlisted bonds (1,058 billion VND) and more than 35 billion unlisted shares. The company does not specifically disclose this item.
At the end of last March, MBS successfully organized the 2024 Annual General Meeting of Shareholders, approved the 2024 plan with total revenue reaching 2,786 billion VND and pre-tax profit reaching 930 billion VND, growth of 53% and 36% respectively compared to the previous year. compared to last year's performance and is the highest profit MBS has ever recorded in its operating history.
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Thus, after the first 3 months of the year, the company has completed nearly 25% of the profit plan for the whole year 2024.
