VNX achieves nearly $50m in profit in H1

The Vietnam Stock Exchange (VNX)’s profit result marked a growth of over 65 per cent from the same period in 2023. — Photo vneconomy.vn

HÀ NỘI — The Vietnam Stock Exchange (VNX) posted a profit after tax of over VNĐ1.24 trillion (US$49.6 million) in the first half of 2024, equating to an average daily profit of over VNĐ7.6 billion, according to its recently audited consolidated financial report.

VNX operates both the Hồ Chí Minh Stock Exchange (HoSE) and the Hà Nội Stock Exchange (HNX).

The profit result marked a growth of over 65 per cent from the same period in 2023.

The primary source of revenue was from securities trading services, amounting to over VNĐ1.87 trillion during the period, a significant increase of 70 per cent year-on-year.

The exchange also earned income from financial activities, with 95 per cent coming from interest on deposits (VNĐ56 billion).

As of June 30, VNX held nearly VNĐ2.1 trillion in fixed-term bank deposits and had VNĐ688 billion in cash, non-fixed-term deposits and cash equivalents.

Enterprise management expenses rose by over 30 per cent to VNĐ423 billion, driven in large part by a 44 per cent increase in the fee for overseeing securities operations paid to the State Securities Commission (SSC), which amounted to VNĐ296 billion.

VNX’s total assets were nearly VNĐ4.2 trillion.

VNX operates as a one-member limited liability company, with the government holding 100 per cent of the charter capital (VNĐ3 trillion), functioning under a parent-subsidiary structure following the reorganisation of HoSE and HNX.

This year, VNX has set a total revenue target nearing VNĐ2.8 trillion, with a profit after tax exceeding VNĐ1.42 trillion. — VNS