Thursday , November 30 2023

VietinBank Securities eyes another record year

VietinBank Securities eyes record profits again this year though the stock market itself is likely to be down.

Its board has approved a profit target of VND505 billion ($22 million), 5 percent up from last year.

Last year pre-tax profits tripled to VND480 billion on revenues of VND1.06 trillion.

Tran Phuc Vinh, its chairman, said though the stock market is no longer booming like last year and growth is likely to be slower this year, he expected the number of new retail investors to keep rising.

“We need to invest in technology, and increase salaries, bonuses and commissions to attract more brokers and collaborators”.

The brokerage is also set to enter corporate bond consultancy and distribution, and step up financial activities by raising its margin rate to 200 percent of shares owned.

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