BSC surpasses 2020 profit plan

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BIDV - SuMI TRuST LeaSIng joInS VIeTnaM BankIng FoRuM 2020

BIDV - SuMi TRUST Leasing Co., Ltd (BSL) recently attended the Vietnam Banking Forum 2020, a prestigious annual event in the banking industry organised by the State Bank of Vietnam (SBV) in collaboration with The Saigon Times Group.

The 2020 forum themed "Restructure and Handle Bad Debts: Results and Policy Recommendations" aims to evaluate the results achieved after more than three years of implementing the National Assembly’s Resolution 42 and five years of implementing the plan of restructuring credit institutions and handling bad debts in accordance with the Prime Minister’s Decision 1058.

Participating members discussed the impact of Covid-19 on the economy and banking operations; outlined suitable financial solutions and financial products to support businesses and the economy in the current conditions; and predicted the trends that will be seen among economic sectors in the coming time.

BSL's representatives introduced financial leasing products to a large number of guests and businesses. The company’s products provide effective medium and long-term capital solutions for enterprises to expand their production and business, creating the foundation for sustainable growth in the future.

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BSC surpasses 2020 profit plan

BIDV Securities Joint Stock Company (BSC, HOSE: BSI) announced its third quarter business results with pretax profit reaching VND78 billion (USD3.38 million), up 20 percent year-on-year.

The company’s revenue reached VND198.6 billion (USD8.6 million), an increase of 17.3 percent over the same period last year. Brokerage revenue reached VND52.3 billion (USD2.3 million), up 52.6 percent year-on-year.

Profits from financial assets accounted for the largest proportion in the operating revenue, reaching VND106.9 billion (USD4.6 million), up 10 percent. Interest income from loans and receivables also increased by 18.8 percent to VND32.1 billion (USD1.4 million). In the first nine months of 2020, BSC gained VND113.9 billion (USD4.9 million) profit before tax, exceeding 32.5 percent of the year plan.

According to the Ho Chi Minh City Stock Exchange (HOSE), in the first nine months of this year, BSC maintained its position in the Top 10 securities companies with the largest market share of stock brokerage, fund certificates and covered warrants on HOSE; Top 10 securities companies with the largest market share of stock brokerage on Unlisted Public Company Market (UPCoM); and Top 10 securities companies with the largest brokerage market share on derivatives market.

This year BSC was honoured to receive the Best Investment Bank Vietnam Award 2020 from the Global Banking and Finance Review - the leading financial magazine in the UK.