Performance of Brokerage Companies Enumerated
Brokerage companies handled 4,525 trillion rials ($37 billion) worth of stock market trade during the first eight months of the current fiscal year (March 21, Nov. 21) and 29% of the total was processed by five firms.
According to a report published on the Tehran Stock Exchange website, Mofid Securities Company was the leading brokerage, processing 13% of trade.
It was followed by Agah Brokerage at 7 %, Pasargad Brokerage Company 3.87%, Farabi Brokerage Company 3.24% and Hafez Brokerage Company 2.55%.
Out of 107 brokerage companies in the stock market, 104 processed online trade in eight months.
Online trade worth 2,436 trillion rials ($19 billion), accounted for 53.8% of the total capital market turnover.
Mofid Securities Company topped the online trade list. The firm processed 22.39% of the online trade followed by Agah Brokerage at 11.78%, Farabi Brokerage 5.26 %, Mobin Sarmayeh Brokerage 3.41% and Pasargad Brokerage Company 2.64%.
Financial records of the stock brokers show the brokerage industry earned 6.6 trillion rials ($54 million) in net profit in the last fiscal year that ended in March 2019.
The figure indicates 171% growth compared to a year before. The profit was the highest in five years, according to a report by the Securities and Exchange Brokers Association (SEBA).
Over the past five years total assets of brokerage companies have grown by a massive 316%.
The report also said that the number of loss-making companies fell from 25 in fiscal 2017-18 to eight in the last fiscal year.
source: Financial Tribune
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