“LPBS Announces Impressive Q1 Results: Net Profit Surpasses VND 40 Billion, with an 81% Increase in Asset Size Since the Start of the Year”

According to the first-quarter 2025 financial statements, in terms of revenue, LPBS recorded nearly VND 62 billion in new interest income from loans, nearly VND 16 billion in financial asset interest income recognized through FVTPL, and over VND 14 billion in securities brokerage revenue. In the second quarter of 2024, the company successfully raised its capital to VND 3,888 billion and expanded its business activities to include securities brokerage for listed stocks, margin trading, advance trading, and proprietary trading.

With the expansion of business segments, operating expenses also increased. As a result, the proprietary trading and brokerage segments showed contrasting performances, with proprietary trading earning nearly VND 13 billion, while brokerage incurred a loss of over VND 6 billion.

The company also incurred additional financial expenses of over VND 15 billion, along with management expenses nearly five times higher than the previous year, due to increased personnel costs, investments in machinery, equipment, and software.

Consequently, LPBS reported a pre-tax profit of nearly VND 47 billion and a post-tax profit of over VND 40 billion, a positive improvement compared to the loss of nearly VND 640 million in the first quarter of 2024.

As of March 31, 2025, LPBS’s asset size reached over VND 9,175 billion, an increase of 81% compared to the beginning of the year, setting a new milestone. This growth was mainly attributed to the increase in the fair value of FVTPL financial assets, from over VND 612 billion to nearly VND 3,372 billion, mostly invested in bonds, and the increase in held-to-maturity (HTM) investments from VND 270 billion to VND 1,859 billion, all in fixed-term deposits with a maturity of more than three months.

Another notable item on the balance sheet is the loan balance, which stood at VND 2,637 billion, slightly lower than at the beginning of the year.

In terms of capital sources, LPBS borrowed over VND 5,123 billion, more than nine times the amount at the beginning of the year. This increase was mainly due to higher borrowings from LPBank, with a balance of over VND 3,641 billion. The company also had outstanding borrowings of VND 999 billion from ABBank, VND 383 billion from Eximbank, and VND 100 billion from Vietcombank.

The company’s business operations were further supported by equity capital of VND 3,888 billion, following the successful offering of 363.8 million shares to existing shareholders at a price of VND 10,000 per share, which concluded on April 16, 2024.

In the latest developments, LPBS has published the annual general meeting documents for 2025, which include several important items. Notably, the company proposes to offer a maximum of 878 million shares to existing shareholders at a ratio of 1,000: 2,258.23 (for every 1,000 shares held, shareholders will receive 1,000 rights, and the right to buy 2,258.23 new shares). This move aims to increase the company’s capital to VND 12,668 billion.

With a proposed offering price of VND 10,000 per share, LPBS expects to raise VND 8,780 billion. The company plans to allocate 60% of the proceeds to invest in bonds and certificates of deposit, 30% to supplement capital for margin lending activities, 10% to bolster its guarantee issuance business and other operations. The capital utilization schedule is expected to span from 2025 to the end of 2026.

Shareholders will also consider approving revenue and pre-tax profit targets of VND 1,015 billion and VND 503 billion, respectively, both more than five times higher than the 2024 results. Among the implementation solutions presented, a key highlight is the continued development of brokerage, margin trading, proprietary trading, and investment banking segments, along with the proposed capital increase to expand LPBS’s operations, enhance its financial capacity, and boost its competitiveness.

Huy Khai

– 12:57, April 20, 2025

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