AsemconnectVietnam - Tien Phong Securities Joint Stock Company (TPS - code ORS) announced business results for the third quarter and accumulated for the first 9 months of 2023.

Accordingly, profit before tax (PBT) in the third quarter of 2023 of TPS reached VND71 billion, an increase of 10.2% compared to the second quarter of 2023. Accumulated, EBT of the first 9 months of 2023 reached more than VND208 billion, completing more than 90% of the profit plan for the whole year 2023.
Equity at the end of September 2023 reached more than VND2,477 billion, an increase of 2.4% compared to the second quarter of 2023, total assets of TPS recorded VND7,054 billion. Revenue from bond-related services such as securities custody continues to be one of the main drivers driving revenue growth for TPS. In 9 months, this activity contributed 39% of total operating revenue, reaching nearly VND881 billion in revenue, an increase of more than 3.1 times compared to the same period in 2022.
At the end of the third quarter, TPS's FVTPL financial assets reached VND2,310 billion, an increase of 47.7% compared to the end of the second quarter, mainly due to the increase in certificates of deposit to VND840 billion. Margin debt balance at the end of the third quarter reached VND842 billion, an increase of VND160 billion after 3 months thanks to promoting margin lending activities and stock brokerage activities when the stock market positively recovered.
In the third quarter of 2023, TPS continues to improve its capital mobilization capacity through the successful issuance of VND1,000 billion of bonds in the form of private individuals, maintaining the total outstanding bond balance as of September 30, 2023 of VND3,000.
On October 6, 2023, Tien Phong Securities Joint Stock Company announced the results of the Long-Term Credit Rating of the First Time Issuer by FiinRatings at "BBB-" with the outlook of "Stable" credit rating. BBB credit rating - reflects FiinRatings' assessment of TPS's ability to meet loan obligations at a "relatively good" level according to the domestic credit rating scale.
Up to now, TPS is one of the first securities companies to participate in evaluating and announcing credit rating results. The publication of credit rating results demonstrates TPS's effort to make information transparent to investors about the Company's operations, while complying with legal regulations and showing determination to build professional practices in the capital market in general and the bond market in particular.
N.Nga
Source: VITIC/Tinnhanhchungkhoan