Habubank securities subsidiary earns profit of 114b dong

Hanoi Housing Development Commercial Joint Stock Bank (Habubank) Securities Co (HBBS) has recently announced the audited business results in 2010 with 175.8 billion dong of revenue, increasing slightly against 169.5 billion dong in 2009, thanks to 63.45 billion dong of other revenue and 63.4 billion dong of revenue from consulting services.

The company’s revenue from brokerage reached 17.1 billion dong, halving from 32 billion dong in the previous year and its revenue from share issuance gained 28 billion dong.

In 2010, HBBS’s total trading volume of shares was only 3.4 billion dong and the total trading value of investors at HBBS was 4.843 trillion dong, a low level in comparison with other securities brokers.

Due to the total expenditures for business operations increased from 11.1 billion dong to 33.7 billion dong, its after tax profit fell from 143 billion dong to 126.6 billion dong and its after tax profit at over 114 billion dong.

Currently, the broker has a chartered capital of 150 billion dong with 100 percent stake held by Habubank.

Tags: Vietnam business news, Vietnam companies