2 2 1 Brokerage Services In 2020, VNDIRECT recorded a total of 402,378 new accounts, and this number continued to skyrocket in 2021 to more than 697,000, accounting for about 17% of the total accounts.
2.2.1 Brokerage Services: In 2020, VNDIRECT recorded a total of 402,378 new accounts, and this number continued to skyrocket in 2021 to more than 697,000, accounting for about 17% of the total accounts in the market The figure for total asset value under management (AUM) also increased drastically in 2021 after a 4-year period of steady growth, hitting the number of nearly VND 200,000 billion This remarkable achievement is due to the fact that VNDIRECT pioneered the revolution of eKYC and constantly upgraded its digital platform in order to create the most accessible platforms For instance, in 2021, the company launched an account opening flow with electronic contracts with digital signatures and a mobile app for asset management With this evolution, the customers not have to send paper contracts to the nearest office for confirmation and can be ready to trade instantly This has assured VNDIRECT’s position as a market leader for the past few years, especially in 2020 and 2021 Figure 2.1: VNDIRECT’s total number of individual investor account from 2017 to 2021 (Source: VNDIRECT Annual Report 2021) The brokerage services brought to VNDIRECT VND 478,193,414,913 and VND 1,614,985,731,066 in 2020 and 2021 respectively, in which the revenue of this service in Q4/2021 accounted for approximately 33% (VND 543.86 billion) of 2021 brokerage revenue As mentioned above, VNDIRECT is one of the market leaders in providing brokerage services for individual clients, and this shows clearly in the income statement of the company The revenue that brokers brought to the company exceeded VND 1,600