Simultaneously, the company made it into the list of top performers in terms of new account opening.
In light of DNSE’s Q2 financial statement, the company counted $7.67 million in operating revenue in Q2, up $2.23 million on-year.
Income from loans and receivables held the lion’s share in revenue structure, amounting to $3.2 million, showing a 47 per cent jump on-year.
|Loans and self-trading made an important contribution to DNSE's strong results in Q2
Gains from financial assets at FVTPL inched up $2.14 million, up 296 per cent compared to Q1 of this year.
The company’s accounting profit before tax in Q2 reached $ 2.73 million, up 3.17 million on-year, and showing 720 per cent jump on year.
The company’s upbeat revenue growth during the period was largely attributable to activities related to margin loans and self-trading, in which the Margin Deal business was launched by DNSE late last year. This is a pioneering system in the market, helping investors to optimise efficiency with portfolio management and risk avoidance.
Margin Deal’s prime advantage is that investors can count the profit, losses, tax amount, and fee of each transaction transparently, updated in real-time. It also offers an array of options for margin loan packages in terms of interest rates and loan ratio.
|Through an increasingly complete product system with many pre-eminent features and strategic ‘handshakes’ to expand its customer network, DNSE quickly increased its customer network in Q2 of 2023.
Simultaneously, leveraging customised management for each buy and sell order, the feature helps investors to avoid cross-selling good stocks in the portfolio in the case of margin calls.
In addition to the deal-based management system, DNSE has constantly introduced new products in the past year with the goal of crafting a compelling financial and securities product ecosystem that is convenient for users.
On July 21 DNSE launched Future X, a derivative product also leveraging the company’s unique transaction-by-transaction risk management feature.
The system automatically delivers warnings related to profit and loss rate, tax, and fee, as well as deposit rate based on real time, thus enabling investors to promptly handle when the market fluctuates.
Also, the closing and opening positions, and depositing and withdrawing of deposits are shortened and simplified, perfectly matching the agile nature of derivatives trading. Currently, the deposit rate for opening derivatives contracts at 18.48 per cent by DNSE is deemed most competitive in the market.
Accelerating in the race for a bigger market slice, alongside shaking hands with in-depth financial-securities data analysis platform FiinTrade from last September, this mid-July DNSE has inked a cooperation contract with e-wallet ZaloPay to launch e-wallet based stock account product.
This is another pioneering product by DNSE, which will help the customers to open stock accounts and embrace transactions on the ZaloPay platform.
The product allows investors to start transactions, even with just one share unit, ushering in numerous opportunities for young customers and F0 investors learning to invest without concerns over the initial investment.
Through an increasingly complete product system with many pre-eminent features and strategic ‘handshakes’ to expand its customer network, DNSE quickly increased its customer network in Q2 of 2023.
By June 2023, the company saw 31,114 new accounts opened, representing 21 per cent of the market total. Also in Q2, DNSE earned a spot among the top performers in the volume of new account opening, holding 12.49 per cent of total market share.
Through sparing no effort on technology innovation and flexibility in product policy, DNSE raked in excellent business results in Q2. For the rest of this year, the expectation is for an upward trend in the stock market, which promises to be a launching pad for securities businesses, including DNSE, to accelerate growth and secure business targets.
|Growth forecasts take price risks into account
Despite positive forecasts from international organisations on Vietnam’s economic recovery, there are still concerns related to inflation and growth that need solutions and directions from the government.
|Businesses eye new openings with medical revision
After years of waiting, the revised Law on Medical Examination and Treatment will help businesses and health facilities solve a number of issues. Qadeer Raza, chairman of the Medical Devices and Diagnostics Sector Committee under the European Chamber of Commerce in Vietnam, talked to VIR’s Bich Thuy about how important the new law is.
|Retail action hots up with store openings
Vietnam’s retail market is becoming a fertile ground for not only domestic retailers but also foreign brands seeking to do business up and down the country.
|Investors have around $3.4b in securities accounts at end of Q2
The stock market is experiencing one of its worst periods since a new wave of investors boomed two years ago.