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Mirae Asset Vietnam Finance Company (Mirae Asset Vietnam) has reported a loss after tax of VND 347 billion for the first half of 2024, a slight improvement from the loss of VND 392 billion in the same period last year.
Currently, Mirae Asset Vietnam is the first finance company to report a loss in the first half of 2024.
As of the end of June, the company’s equity was VND 1,397 billion, a significant decrease from the VND 1,842 billion recorded a year earlier. The debt-to-equity ratio increased from 6.44% to 8.39%. Based on the above two figures, the scale of liabilities and total assets of Mirae Asset Vietnam as of June 30, 2024 was VND 11,721 billion and VND 13,118 billion, down 1.2% and 4.3% respectively compared to the same period in 2023.
Source: Mirae Asset Vietnam Report
The after-tax profit margin/equity (ROE) in the first half of 2024 was -24.8% while the same period last year was -21.3%. The capital safety ratio increased from 17.52% in June 2023 to 20.13%.
Mirae Asset Vietnam Finance Company is a member of the Mirae Asset Group from South Korea.
The company officially started operating in 2011 and mainly operates in the consumer lending field. Mirae Asset Vietnam currently has a charter capital of VND 2,000 billion, which is 100% owned by Mirae Asset Capital Limited Liability Company (headquartered in South Korea)
By the end of 2023, Mirae Asset Vietnam was serving nearly 2 million Vietnamese with consumer loan products and card services through 20,000 sales points nationwide.
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