Bank for Investment and Development of Vietnam (Bidv)’s Securities Joint Stock Co (BSI) has recently announced its business performance in the first quarter of 2012, marking the third securities broker after SHS and IVS reporting profit in Q1/2012.
In details, BSI’s revenue in the period reached 72.84 billion dong, tripling against 24.47 billion dong of the same period last year.
As explained by BSI, thanks to favourable market conditions in Q1/2012, the broker’s revenue surged sharply. Its revenue from securities investment and capital contribution reached 27.81 billion dong, accounting for the biggest proportion and revenue from securities brokerage made up 9.59 billion dong.
It’s after tax profit in Q1 was 28 billion dong while in the same period last year, it suffered a loss of 11.4 billion dong. For the whole year 2011, BSI posted a net loss of 208 billion dong.
The broker’s cash and cash equivalents as of the end of Q1 reached nearly 2.8 trillion dong, of which, deposits at banks were 2.023 trillion dong and the deposits of investors were 177.67 billion dong.
For payable item, the company recorded a deposit for buying government bonds at 2.45 trillion dong.