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CITISECONLINE, a publicly traded online brokerage
company, said it was back in the black last year, as revenues rose
by more than two-fold due to its intensified investor education,
value-added products and online tools.
In its report to shareholders,
Citisec announced that total revenues rose by 152 percent to P94.2
million last year while net income reached P34 million, reversing
its net loss of P2 million the previous year.
Conrado Bate, CitisecOnline
president, said that the company’s success is driven by investor
education, a suite of value-added products and services and superior
online tools and functionalities. These efforts, the company said,
resulted in a five-fold jump in its subscriber base last year.
The company reported that its
investor seminar series attracted 2,000 prospective retail investors
nationwide wherein they were offered courses in investing,
fundamental and technical analysis, and advanced technical trading
strategies.
Besides investor education,
Citisec also offered value-added products and services found in the
firm’s website www.citiseconline.com, among which are the
website’s research notes widely used by clients to spot
profit-making opportunities.
Together with the expansion of
its client base, Citisec’s website hits increased by 400 percent
and by the end of last year reached 73 million.
CitisecOnline aims to expand its
retail base by offering students the CitisecOnline 101 Starter
Account which reduces the initial deposit to P5,000.
--Likha C. Cuevas
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