KBSV receives Outstanding Members of HNX 2020 award

17:01 | 03/11/2020
Thanks to its efforts and contributions, Korean-backed securities firm KBSV has just been honoured as one of 10 Outstanding Members in 2020 by the Hanoi Stock Exchange.
kbsv receives outstanding members of hnx 2020 award
KBSV was honoured among the 10 Outstanding Member in 2020 by the Hanoi Stock Exchange

On October 31, in Quy Nhon city in the south-central province of Phu Yen, the Hanoi Stock Exchange (HNX) held the 2020 Annual Membership Meeting with the participation of leaders from the State Securities Commission (SSC), Vietnam Securities Depository (VSD), Ho Chi Minh City Stock Exchange (HSX), and representatives of market members.

KB Vietnam Securities JSC (KBSV) was honoured as one of 10 Outstanding Members in 2020 by the northern bourse (HNX).

This result leverages diverse financial safety criteria (according to CAMEL model), trading market share, bonds, and the derivative stock market, co-ordination with HNX in development of stock, bond, and derivative securities markets; and compliance with membership obligations.

In addition, KBSV commits to accompanying HNX and continuously improving the quality of services and products to contribute to the development of HNX in particular as well as Vietnam's stock market in general.

In addition, KBSV commits to accompanying HNX and continuously improving the quality of services and products to contribute to the development of HNX in particular as well as Vietnam's stock market in general.

This is an annual activity organised by HNX to honour market members having contributions to the stock market in general and HNX in particular, and also an opportunity for regulators and securities companies to meet and exchange ideas and solutions to develop the stock market.

In 2020, despite facing the effects of the COVID-19 epidemic, Vietnam's stock market has made positive changes as the economy gradually returns to a normal state and the Ministry of Finance and the SSC has promptly implemented solutions to maintain stability, smoothness, and stabilise the market during the past nine months.

As a result, the total revenue of 74 securities companies reached VND24.478 trillion ($1.06 billion), an increase of 39 per cent over the same period last year; while total cost is VND15.993 trillion ($695.35 million), up 34 per cent compared to the same period last year; after-tax profit reached VND6.964 trillion ($302.78 million), an increase of 43 per cent over the same period last year.

56 securities companies have profitable business results, with a total of VND7.115 trillion ($309.35 million) in profit while 18 securities companies produced a total loss of VND152 billion ($6.6 million).

Besides, summarising the first nine months of 2020, HNX has worked closely with SSC and the Ministry of Finance in proposing solutions to increase market liquidity and strengthen market surveillance measures. In particular, HNX has actively inspected and ensured the safety of the trading system in the market, as well as co-ordinated with securities companies to develop an operation plan aligned with COVID-19 situation to ensure both epidemic prevention while ensuring market transactions are safe, continuous, and smooth.

By Anh Duc

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