Securities firms see limited profit growth

Securities companies in China posted net profits of 26.3 billion yuan ($4.18 billion) in the first three quarters of the year, the Securities Association of China said on Nov 5.

The total net profit growth of the 114 securities firms was limited in the first nine months as it was only slightly higher than the 22.6 billion yuan figure posted in the first half of the year.

The combined revenue of the securities companies in the first nine months was 95.6 billion yuan.

Eighty-seven securities companies, or 76 percent of the total, had profits in the first three quarters. In the first half, 79 percent of the companies had posted profits.

By the end of September, the total assets of the securities companies were at 1.56 trillion yuan, with net assets of 680 billion yuan and net capital of 483 billion yuan.