Stock exchange operator reports 56% profit growth

By Phuong Dong May 21, 2023 | 08:55 pm PT

An investor looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Vietnam Exchange, which manages the country’s two biggest stock markets, achieved profits of VND2.09 trillion (US$89.05 million) last year, up 56% from 2021.

Its revenues rose by 66% to VND3.42 trillion though it had targeted a growth of only 4%.

The state-owned company owns 100% of the Ho Chi Minh Stock Exchange (HoSE) and Hanoi Stock Exchange (HNX).

Some 60% of its revenues and profits came in the first half of the year when trading was regularly worth VND30 trillion a day and the benchmark VN-Index rose to a record 1,528 points.

The HoSE management said investor sentiment was hit in the second half by global economic challenges, geopolitical tensions, inflation, and violations of stock laws in Vietnam.

VNX was established in 2021 with a charter capital of VND3 trillion.