This report was presented by Mr. Tran Minh Toan – Chief Financial Officer (CFO) of DSC at the Investor Conference held on the afternoon of September 27.
Mr. Tran Minh Toan, Chief Financial Officer (CFO) of DSC, speaking at the Conference on September 27
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In Q3 2024, DSC reported robust proprietary trading activities, with a pre-tax profit of approximately VND 48 billion, accounting for 56% of the profit structure, and an increase of 847% year-on-year. From the beginning of the year until now, proprietary trading has brought in VND 51 billion (exceeding the annual plan by 535%).
As of June 30, 2024, in the FVTPL asset portfolio, DSC held over VND 299 billion in listed shares, with the largest investment being in ACB with a book value of VND 98.5 billion. Compared to the beginning of the year, DSC has invested VND 70 billion in CTG, VND 62.5 billion in HCM, VND 51 billion in MBB, and an additional VND 15 billion in OCB…
On the other hand, the company sold off its investments in FPT with a book value of VND 68 billion, SSI with VND 71 billion, and VAB with VND 3 billion.
In Q3, the company also recorded a pre-tax profit of VND 34 billion from securities brokerage services, bringing the total profit for the first nine months to VND 104 billion (64% of the annual plan). Regarding capital utilization, as of the end of Q3, the total lending value of DSC is estimated at VND 1,720 billion, up 31% year-on-year.
CFO Tran Minh Toan stated: “Revenue from lending activities remains stable and ensures the growth of DSC throughout 2024. In addition, with the sharp decline in the market interest rate for margin loans, revenue from deposits and a few other activities of DSC has also been affected to some extent. However, this is a common issue in the securities industry and will be adjusted soon to be more suitable in the next phase.”
In the first nine months of 2024, DSC is estimated to have achieved VND 388 billion in revenue, fulfilling 92% of the annual plan, and a pre-tax profit of about VND 184 billion, meeting 92% of the annual target.
According to Mr. Toan, the strategy for managing and optimizing human resources and capital has directly impacted the business results of the first nine months and Q3 2024, in particular. The CIR ratio of DSC has decreased from 66% in 2023 to 53% in 2024.
Regarding future plans, DSC‘s leadership shared that, in addition to the goal of completing the management and business plan presented at the 2024 AGM, the company will focus on upgrading its information technology infrastructure and improving and expanding its digital services and products based on the needs of customers and investors.
In related news, on September 24, the Ho Chi Minh City Stock Exchange (HOSE) approved the listing of more than 204.8 million DSC shares with a par value of VND 10,000/share, corresponding to a total listing value of over VND 2,048 billion.
The plan to switch from UPCoM to HOSE was agreed upon at the 2024 AGM.
