Ngày 24/10/2016 - 7:15 SA

TCBS: 2016 Third-quarter performance remains positive.

TCBS has recently announced positive results for its fiscal third quarter which ended in September 30, 2016. TCBS generated a revenue of VND 666.5 billion and a profit before tax of VND 552.8 billion in the first 9 months of this year, up 96% and 91% year-on-year respectively. ROE was 33% for the first 9 months of this year, compared with 24% for the same period in 2015.

Investment banking has successfully maintained its status as the main revenue source, contributing 60% to total revenue with VND 400.7 billion, advancing 116% year-on-year. During the third quarter 2016 TCBS continued to assist leading domestic corporations in raising fund through debt capital markets. TCBS advised the bond issuance worth VND 6,600 billion in the third quarter 2016, increasing the total amount of bond issuance advised by TCBS to approximately VND 20,000 billion.

Revenues from proprietary trading and securities custody are on the way of growth although these business activities accounted for just a minor proportion of total revenue. Revenue from margin trading had a noticeable jump by 460% year on year. It is clear that the margin trading service of TCBS is benefiting from providing investors with a margin limit of VND 300 billion and a competitive margin rate of 9.9%.

Summary financial highlights:

  9M 2016 9M 2015 % better/(worse)
Revenue (VND bn) 666.5 340.3 96
PBT (VND bn) 552.8 290.0 91
ROE (%) 33 24  

 

Summary of reported results:

  9M 2016 9M 2015 %better/(worse)
Revenue 666.5 340.3 96
              Brokerage 12.6 10.6 19
              Proprietary trading 226.1 132.9 70
              Investment banking 400.7 185.5 116
              Custody 3.7 3.1 19
              Others 23.3 8.0 191
Operating expenses (30.6) (8.5) 260
Gross profit 635.9 331.8 92
General and administrative expenses (83.1) (41.8) 99
Operating profit 552.8 290.0 91
Profit before tax 552.8 290.0 91

 

Regarding brokerage service, TCBS was successful in retaining its market share top ranking (86 percent) thanks to TCBond series’ competitive edge. For the third quarter 2016, total trading volume of TCBond reached VND 2,600 billion.

TCBS’s balance sheet highlighted a good financial health. The company did not have any borrowings and held a huge amount of cash on hand.

TCBS aims to achieve a revenue of VND 791 billion and a profit before tax of VND 652 billion by the end of 2016. The company has fulfilled 84.3% of revenue target and 85% of profit before tax target over the first 9 months of the year.

 

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