KBSV reports revenue of US$5.8 million in 2017
Revenues of KB Securities Vietnam (KBSV) in 2017 reached VND133.7 billion (US$5.8 million), or a decrease of 18% compared to the previous year`s VND159 billion (US$7 million), according to the company’s financial statement.
Specifically, revenue from securities brokerage services accounted for VND58.2 billion (US$2.5 million), an increase of 16% from 2016 of 49.3 billion (US$2.1 million).
Revenues of KB Securities Vietnam (KBSV) in 2017 reached VND133.7 billion (US$5.8 million).
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The firm’s total assets by the end of 2017 reached VND699 billion (US$30.7 million), up 11% compared to VND624 billion (US$27.4 million) at the beginning of the year. Meanwhile, the firm’s equity stood at VND503.5 billion (US$22.1 million) by year-end, an increase of 5% from VND484 trillion (US$21.2million) at the start of the year.
Previously, KB Securities (Korea), a member of Korea’s KB Financial Group (KBFG) acquired 29.8 million shares of Maritime Securities Incorporation (MSI), equivalent to 99% of its chartered capital on October 6, 2017 and changed its name to KBSV. The deal was reportedly worth VND756 billion (US$33 million).
The brand "KB Securities Vietnam" was officially launched in Hanoi on January 29.
KB Securities is one of the key members of KB Financial Group, along with KB Bank, KB Fund Manager, and KB Insurance. Aspiring towards becoming Asia’s Top 10 and Global Top 50 under the vision of a “global financial group leading the Asian financial industry,” KB Financial Group has expanded its network to 13 countries across Asia, Europe, Oceania, and North America.
The launch of the KB Securities Vietnam brand is an important part of KB's expansion plan in Southeast Asia, including Vietnam and Indonesia. In the coming years, KB Financial Group will continue to invest strongly in the Vietnamese market, and contribute as well to proving the attractiveness of the market for foreign capital flows, according to the company.
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