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Rong Viet Securities (VDS) earned VND320 billion profit in 9 months 

 Tuesday, October 17,2023

AsemconnectVietnam - Rong Viet Securities (VDSC - stock code VDS) has just announced its separate financial report for the third quarter of 2023 with pre-tax profit reaching VND113 billion.

Exceeded profit plan after 9 months of 2023
According to its separate financial report for the third quarter of 2023, Rong Viet recorded total revenue and expenses reaching VND255.4 billion and VND142 billion, respectively, pre-tax profit reached VND113.4 billion, 4.5 times higher compared to the same period in 2022.
Accumulated in the first 9 months of 2023, Rong Viet's total revenue will reach VND603.2 billion, equivalent to 92.7% of the same period in 2022 and completing 68.9% of the year's plan. Meanwhile, the Company's expenses decreased significantly thanks to the reversal of expenses for evaluating the reduction in the value of the investment portfolio, recorded at VND283.4 billion and only equal to 37.2% of the same period. Thanks to that, Rong Viet's 9-month accumulated pre-tax profit reached VND319.8 billion, after-tax profit reached VND252.8 billion, completing 118.4% and 117.1% of the 2023 plan, respectively.
Regarding the financial situation, as of September 30, 2023, Rong Viet's total assets reached VND5,134 billion, equity reached VND2,326 billion, an increase of 21.1% and 12.3% respectively compared to the end of 2022. Rong Viet's financial safety ratio continues to be maintained at a safe level and much higher than regulations, reaching 426.4%.
Regarding operating efficiency, Rong Viet's earnings per share (EPS) in the first 9 months of 2023 reached VND1,204. Targets of return on total assets (ROAa) and return on equity (ROEa) in 9 months reached 5.39% and 11.50%, respectively.
Put bonds into custody and trade
Recently, Rong Viet completed the second bond issuance in 2023 with a total successful issuance value of VND698.6 billion, equal to 99.8% of the total offering value. In August 2023, Rong Viet continues to offer the third batch of individual bonds worth VND900 billion. Currently, implementation progress is very good according to the plan, helping to balance finances and supplement capital to serve the Company's business activities.
With a reputation that has been affirmed through many separate bond issuances, especially in the period from the fourth quarter of 2022 until now when the requirements and standards set for issuing organizations are increasingly improving, as well as As investors' psychology and confidence in the market are strongly affected, Rong Viet maintains its position as one of the few units that fully meet standards and regulations and has successfully mobilized continuously many bond issuances, contributing to diversifying effective investment opportunities for Rong Viet's customers and investors.
Also in September 2023, Rong Viet will register bond depository at Vietnam Securities Depository and Clearing Corporation (VSDC) and register to trade on the individual corporate bond trading system at the Hanoi Stock Exchange (HNX) for the Company's outstanding bond codes. This is to meet new regulations of the Ministry of Finance, the regulatory agency in standardizing the individual bond market, increasing liquidity and ensuring maximum benefits for investors.
Promote strategic cooperation and digital transformation
Last September, Rong Viet and Ryobi Group (Japan) announced the signing of a Memorandum of Understanding (MOU) to expand strategic cooperation in the fields of investment, investment banking, and asset management and develop customer network.
At the signing ceremony, representatives of both sides committed to expanding cooperation to take advantage of each other's strengths and experiences. Specifically, Ryobi Group will actively grasp market information and investment opportunities introduced by Rong Viet. At the same time, Rong Viet commits to using its strengths to support Ryobi Group in finding suitable investment opportunities in the Vietnamese stock market.
Not only promoting business development cooperation, digital transformation activities to increase customer experience and infrastructure, technology security were also promoted by Rong Viet in the last quarter. The company has completed and put into operation many important digital transformation projects in the third quarter of 2023, notably two projects: Comprehensive Data Platform (Data Warehouse) and Management and Development System. Customer development (CRM). The CRM project is expected to provide useful solutions and tools to help Rong Viet's team of investment consultants comprehensively serve and care for customers, increasing satisfaction and experience a better one for customers.
The efforts and progress in Rong Viet's digital transformation strategy over the past time were recognized when recently, the Company was honored in the category "Typical technology and digital transformation products", along with the title "For the development of financial services" at the 2023 Financial Advisor Summit (VWAS).
Many outstanding events in the last quarter of 2023
In the fourth quarter of 2023, Rong Viet deploys many major events for customers, investors and the social community. The highlight is the promotion program "Busy Birthday - Filled with gifts" to express gratitude to customers and towards the 17th anniversary of the Company's establishment. The program takes place from October 9, 2023 to December 20, 2023, with 2 groups of technology and tourism awards. The total value of incentives and prizes of the program is up to more than VND1 billion.
Also in the last quarter of the year, the RongViet Invest 2023 contest coordinated by Rong Viet with 25 universities and colleges across the country officially entered the thrilling competition sections. The contest has so far attracted more than 4,000 students to register to participate, with two parts including investment knowledge and practical stock investment. The total value of prizes and gifts of the contest is up to nearly VND400 million, of which the student who won first prize in the practical investment contest received a bonus of VND50 million.
Rong Viet representative shared that this is a playground for students nationwide to have the opportunity to learn, orient their careers, and at the same time have experience as a real investor in the Vietnamese stock market. Students nationwide can still register to participate in the program until October 22, 2023.
Source: VITIC/Tinnhanhchungkhoan


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