The Vietnam Stock Exchange (VNX) reported a decrease of 11% year-on-year in net revenue to more than 3 trillion VND, according to the audited consolidated financial statements for 2023.
The Hanoi Stock Exchange in Ho Hoan Kiem street (Photo: VNA)
Hanoi (VNS/VNA) - The Vietnam Stock Exchange (VNX) reported a decrease of 11% year-on-year in net revenue to more than 3 trillion VND, according to the audited consolidated financial statements for 2023. The majority of the VNX's revenue came from securities trading services.
Last year, the VNX saw declines across various expense categories, including finance and management costs. However, the exchange's other expenses surged by more than four times.
Deducting all expenses and taxes, it posted a net profit of 1.92 trillion VND, down 8% from the year before. This marks the first time the exchange has reported negative performance in both revenue and profitability.
As of the end of 2023, the VNX's total assets reached approximately 4 trillion VND, with nearly 50% of the value in the form of bank deposits. This contributed to its recording 163 billion VND in interest income, up 58% on year.
The VNX was established in February 2021 with a charter capital of 3 trillion VND. It is a 100% State-owned limited liability company, operating under a parent-subsidiary model formed by reorganising the Ho Chi Minh and Hanoi stock exchanges.
Its main role is to unify the organisational structure, policies and IT infrastructure to serve the market.
In its first year, the exchange reported revenue of over 2 trillion VND and net profit of 1.3 trillion VND. The figure surged to 3.4 trillion VND in revenue and 2.1 trillion VND in profit in 2022, driven by a strong stock market performance.
🍨 For 2024, the VNX has set targets of nearly VNĐ2.8 trillion in revenue, down 9% and 1.4 trillion VND in net profit, down 26%. It also plans to contribute over 1.7 trillion VND to the State budget in taxes./.
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