In the fourth quarter of 2024, Lộc Phát Securities reported a significant increase in revenue and profit, with a total revenue of 93.85 billion VND, representing a 1,309.9% rise compared to the same period last year. The company’s net profit after tax reached 40.42 billion VND, a 1,394.42% increase.
The company’s impressive performance is attributed to its successful business expansion and strategic investments.
Total net profit after tax reached 100 billion VND, exceeding the planned target by 200%.
Lộc Phát Securities’ management attributed the impressive results to the successful completion of its capital increase and the registration of new business operations, such as margin lending and short selling, in the first half of 2024. The company focused on expanding its business and introducing new products to the market in the fourth quarter, resulting in a significant surge in revenue and profit.
In addition to business expansion, the company also invested in new equipment, software, and human resources to support its growth. The total assets of Lộc Phát Securities reached 5,066 billion VND, a 17,421.81% increase compared to the beginning of the year. The company’s margin lending balance also surged to 2,664 billion VND, from zero at the end of the second quarter.
Ông Nguyễn Đức Quân Tùng, former CEO and board member, laid the foundation for Lộc Phát Securities’ success in 2024.
Lộc Phát Securities’ remarkable growth is expected to continue, driven by its expanded business network, increased charter capital, and investments in technology. The company aims to become one of the leading securities companies in Vietnam, providing comprehensive financial solutions to its clients.