BSC named Best Investment Management Company in Vietnam

Huu tHanH

BSC named Best Investment Management Company in Vietnam

BIDV Securities Joint Stock Company was honoured with the award Best Investment Management Company in Vietnam in 2021 by Global Banking and Finance Magazine.

The award was evaluated and selected by the Jury Council of Global Banking and Finance Review among the companies with the best quality of advisory services and stock and bond investment activities in Vietnam. Prominent is the financial consulting activity of BSC with a series of successful bond issuance advisory transactions and highly appreciated by partners such as Becamex IDC, Becamex ITC, Novaland Group, Hung Thinh Land, Intracom, Vietinbank, etc.

Regarding securities investment consulting services, BSC has continuously launched diverse products and services in 2021 with the desire to improve customer experience such as: using eKYC to open online accounts, providing consultancy and customer support on Zalo platform (BSC Zalo), deploying quick transferring/ depositing money to securities accounts through the identification number 9618…

In addition to the impressive results in financial advisory and securities investment consulting, BSC's investment activities also showed strong growth in profit; profit from FVTPL assets (fair value through profit or loss) and profit from investments held to maturity (HTM) in the first 9 months of 2021 were VND130.1 billion (USD5.7 million), up 80.4 percent over the same period last year. BSC also reported positive third quarter business results with profit before tax reaching VND345 billion, 3 times higher than the same period last year.

According to the financial statements for the first 9 months of 2021, BSC's operating revenue reached more than VND920 billion (USD40 million), profit before tax hit VND345 billion (USD15 million), 3 times higher than the same period in 2020 and nearly 2 times higher than the business plan approved at the last April General Meeting of Shareholders. For the third quarter of 2021 alone, BSC's operating revenue reached nearly VND320 billion (USD14 million), profit before tax reached VND129 billion (USD5.6 million), 1.6 times higher than the same period last year.

BSC's business results grew well in all three business segments: brokerage and margin lending, financial consulting, and proprietary trading thanks to successfully capturing opportunities when the market increased strongly in both liquidity and market share. Brokerage and margin lending continued to be a prominent contributor with revenue of VND560 billion (USD24.3 million), followed by proprietary trading with VND285 billion (USD12.4 million) and financial consulting with VND59.5 billion (USD2.9 million). For the rest of the year, BSC is set to continue to implement large consulting projects, promising to contribute positively to the company’s revenue in 2021.