Completing 76% of the annual profit plan in 6 months 

With a solid foundation, RongViet Securities (VDS) took advantage of the market’s recovery in Q2 2023 to achieve positive business results: the total consolidated revenue reached VND 188 billion, marking a 28.87% increase compared to the same period last year. Regarding the revenue structure, the investment segment recorded more than VND 48.4 billion, a stark contrast to the VND 20 billion loss in Q2 2022. Additionally, the brokerage and margin lending segments reported revenues of over VND 59 billion and VND 73.4 billion, respectively.

While operating costs were recorded at VND 28 billion, a plunge of 93% compared to the same period last year, RongViet was able to reverse over VND 91.4 billion, primarily due to the market's recovery, from FVTPL. 

As a result, RongViet recorded a consolidated pre-tax profit in Q2 2023 of VND 128.9 billion and a net profit of VND 105.3 billion. In the first 6 months of 2023, RongViet accumulated a pre-tax profit of VND 206.4 billion and a net profit of VND 161.2 billion, completing 76.4% and 74.6% of the full-year plan, respectively. 

As of June 30, 2023, the total assets of RongViet reached nearly VND 4,470 billion, and equity reached VND 2,237 billion, erasing all accumulated losses at the end of 2022. Earnings per share (EPS) in the first 6 months of 2023 reached VND 768. Return on assets (ROAa) and return on equity (ROEa) reached 3.7% and 7.5%, respectively. With these results, RongViet's stock price has more than doubled compared to the beginning of the year, bringing the company's market capitalisation to more than VND 3,200 billion. 

Comprehensive digital transformation  

RongViet, with the vision of becoming one of the leading, modern and most effective financial institutions, has built and started implementing a comprehensive digital transformation strategy, with four pillars: (1) Optimise and build excellent operating systems; (2) Enhance client experience; (3) Develop new platforms and business models; (4) Develop robust IT infrastructure and security. 

Over the past few years, RongViet has continuously improved the financial - investment ecosystem, and launched various digital tools and platforms to assist clients with their investments such as eduDragon, an online stock investment learning system; smartDragon, an investment analysis platform; smartDragon iBot, a virtual investment assistant; iDragon Pro, a new trading application, etc.  

In addition, right in July 2023, RongViet officially put the Data Warehouse project into operation - a comprehensive data platform, after over 11 months of effort from RongViet's staff with the consultancy and cooperation of experts from CMC Group and IBM Vietnam. 

The project is an important milestone that contributes to the improvement of the efficiency of data management and usage at RongViet, acting as a foundation to continue the successful implementation of digital transformation projects: HRM, human resource management system; CRM, customer relation management; BI, comprehensive management reporting system, etc. 

Despite the continuous investment and promotion of digitalisation projects, RongViet affirms that, in the near future, technology still cannot entirely replace the experienced investment consulting team and customer service. However, technology will be the "counterweight", requiring the investment consulting team to constantly learn, improve and utilise technology to boost effectiveness in customer service. 

The team of quality experts continues to act as a final "filter" to help investors make decisions effectively. Not to mention, the potential for development of the Vietnam stock market is still enormous; therefore, the role of the investment consulting team in finding, developing and taking care of clients remains incredibly necessary. They also play a vital role in accompanying and assisting clients in achieving a successful investment journey.  

Achieving sustainable development through the quality of products and services on technology platforms along with a high-quality staff 

With a well-established reputation in the market, a thoroughly trained and professional investment consulting team, and a range of products and services with various outstanding utilities on an extensively invested technology platform, RongViet wishes to provide potential client groups with the opportunity to experience RongViet's products and services. 

In the near future, RongViet plans to introduce a promotional programme offering fee-free transactions for clients who open new accounts using eKYC technology. However, RongViet’s leaders emphasise that the "zero fee" competition is not a sustainable solution. Instead, the focus is on continuous improvement, enhancing the quality of products and services, and ensuring client satisfaction.  

Contrary to the current trend of reducing brokerage personnel in the industry, RongViet does not have a policy of layoffs. Instead, the company is committed to expanding its workforce and places a strong emphasis on communication, training, and transforming the mindset of its investment consulting team. This approach aims to maximise the effective utilisation of the technology platforms and systems that RongViet has perseveringly invested in and developed over the past few years. 

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