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Home / Economy / Banking & Finance
SSI targets 18% brokerage market share
Ngoc Thuy 21:24, 2018/04/22
Saigon Securities Incorporation (SSI) set brokerage market share at around 17 - 18%, said the company at its annual general meeting on April 20.
SSI also targeted total revenue of VND3.4 trillion (US$149 million), pre-tax profit of VND1.6 trillion (US$70.1 million), increasing 15% compared to 2017.
 
SSI targets 18% brokerage market share.
SSI targets 18% brokerage market share.
Notably, the shareholders meeting approved on changing the company name from Saigon Securities Incorporation to SSI Securities Corporation. The change is aimed to improve branding recognition, said Nguyen Duy Hung, SSI's chairman of board. 
On the shareholders question regarding the recent divestment of 20% charter capital from Dong Nai port in April, Hung said the investment has exceeded the expectation. 
SSI's main operation is in financial investment, thus, profit and liquidity are top priorities, Hung added. The stock market in 2018, according to Hung, is on the rise, thanks to the high economic growth. Consequently, there will be more opportunities for companies like SSI. 
By the end of 2017, SSI's revenue reached VND3 trillion (US$131.5 million), up 20% compared to 2016 and exceeding 44% of the year plan. Substantially, its consolidated pre-tax profit in 2017 is estimated at VND1.4 trillion (US$61.4 million), up 23% year on year. 
Prior to the annual general meeting, SSI announced its revenue in the first quarter of VND1 trillion (US$43.8 million), pre-tax profit of VND479.2 billion (US$21 million), up 95% and 46% compared to the same period of last year, respectively. 
Vietnam's stock markets raised VND21.3 trillion (US$938 million) through the IPO auctions of 12 State-owned enterprises (SOEs) in the first quarter of this year.The value in the first quarter was equal to the total IPO value of the previous four years, according to data of StoxPlus Company.
Vietnam considers 2018 a key year in the country's restructuring plan of SOEs, targeting to equitise at least 86 SOEs in the year with 64 of which being large size. The target is tough, but experts believed it is feasible thanks to many favorable conditions including high economic growth and macroeconomic stability.
Foreign investment inflows were also extremely optimistic of the Vietnamese stock market, with net purchasing value equaling VND41 trillion (US$1.8 billion) last year, a six-fold increase compared to the same category in 2016.
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