Despite difficult market conditions, KBSV had profit in Quarter I.2020, new open account increases by 198% compared to the last quarter of 2019

27/04/2020 - 212 View
KB Securities Vietnam Joint Stock Company (KBSV) has just released its financial statements for the first quarter of 2020 with the revenue of 132.6 billion, increased by 88% as compared to the same period in 2019. Accordingly, business items in Q1.2020 have growth compared to the same period last year.
Specifically, brokerage revenue of KBSV reached VND 17.9 billion, an increase of 15% compared to the same period. Notably, profit from financials assets at fair value through profit or loss (FVTPL) gained 23.5 billion, 10 times more than the same period last year.
For margin segment, KBSV recorded profit from loans and receivables of more than VND 49.2 billion, increased by 42.8% as compared to Q1.2019. This result is due to KBSV constantly offering attractive margin promotions for customers such as KB Super Dream (0% margin discount for the first 10 trading days) and KB Amazing (preferential transaction fee and margin interest for new customers).
By the end of the Q1.2020, KBSV reported a profit before tax of nearly VND 43 billion, up 72% compared to the same period last year. Besides, according to HOSE, in Quarter I.2020 KBSV officially entered the Top 10 Bond brokerage market share, ranked second with a market share of 3.6%. At the same time, with the launch of the KB-Amazing promotion and KB-Challenge contest, the number of new accounts opened at KBSV doubled, reaching 198% compared to Q4.2019.
It can be seen that despite experiencing fluctuations in the stock market in the first quarter of 2020, KBSV still achieved positive business results and the highlight about the new technology system. Additionally, KBSV has been planning new development proposals and continuing to deploy service packages to thank and support the maximum benefits of customers such as KB-Joy (free derivative transactions for new customers) and KB-Thanks (refund of trading fee for online transactions).