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, 2024.
Mr. Tran Minh Toan, Chief Financial Officer of DSC, speaking at the Conference on September 27, 2024
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In the third quarter of 2024, DSC recorded positive proprietary trading activities with a pre-tax profit of approximately VND 48 billion, accounting for 56% of the profit structure, up 847% over the same period last year. From the beginning of the year until now, proprietary trading activities have brought in VND 51 billion (exceeding 535% of the annual plan).
It is known that, as of June 30, 2024, in the FVTPL asset portfolio, DSC is holding more than VND 299 billion in listed shares, of which the largest investment proportion is 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 additionally purchased VND 15 billion in OCB…
On the contrary, the Company sold all of its investments in FPT with a book value of VND 68 billion; SSI for VND 71 billion and VAB for VND 3 billion.
In the third quarter, 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 (reaching 64% of the annual plan). Regarding capital exploitation activities, as of the end of the third quarter, the total lending value of DSC is estimated at VND 1,720 billion, up 31% over the same period.
CFO Tran Minh Toan said: “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 DSC’s deposit and some other activities 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, fulfilling 92% of the annual target.
According to Mr. Toan, the strategy of managing and optimizing human resources and capital has directly impacted the business results of the first nine months of the year and the third quarter of 2024, in particular. DSC’s CIR ratio has decreased from 66% in 2023 to 53% in 2024.
Sharing about future plans, DSC‘s leaders said that besides the goal of completing the management and business plan presented at the 2024 Annual General Meeting of Shareholders, the Company will focus on upgrading its information technology infrastructure and improving and expanding some new digital services and products based on the needs of customers and investors.
In related news, on September 24, 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 more than VND 2,048 billion.
The plan to switch from UPCoM to HOSE listing was unanimously approved at the 2024 Annual General Meeting of Shareholders.
