KUALA LUMPUR, \u00a0<\/p>\n Consolidated \u00a0<\/p>\n The More \u00a0<\/p>\n Likewise, \u00a0<\/p>\n Rakuten \u00a0<\/p>\n Group \u00a0<\/p>\n “While \u00a0<\/p>\n “Looking \u00a0<\/p>\n For more information on Kenanga,
\nMALAYSIA\u00a0–\u00a0Media OutReach<\/a>\u00a0– 26 August 2021 –\u00a0Malaysia’s leading independent investment bank, Kenanga Investment Bank Berhad<\/a> (“Kenanga” or the “Group”)
\ntoday announced a 49.4% rise in profit after tax and non-controlling interest
\n(“PATNCI” or “net profit”) for the second quarter ended 30 June 2021 (“2Q21”)
\nto RM30.6 million, as compared to RM20.5 million in the same period last year
\n(“2Q20”). For the six months period ended 30 June 2021 (“1H21”), net profit increased
\nfour-fold to RM64.7 million, from RM13.5 million in 1H20. <\/p>\n![](\"https:\/\/release.media-outreach.com\/release.php\/Images\/Thumb\/500x0\/172333\/Kenanga-2-.jpg#image-172333\")
<\/p>\nDatuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Berhad<\/span>
<\/h5>\n
\nrevenue for 2Q21 stood at RM212.6 million, marginally higher from RM210.6
\nmillion in 2Q20. Annualised Return on Equity (ROE) is at 12.8%, compared to
\nfull year 2020 of 10.7%.<\/p>\n
\nstronger earnings were largely attributed to higher contributions from the stockbroking
\nand investment and wealth management businesses, as well as higher share of
\nprofits from the joint venture with Rakuten Trade.<\/p>\n
\nthan half of the Group’s profit before tax (“PBT”) was contributed by the
\nstockbroking segment, which continued to remain as the Group’s major earnings
\ncontributor. PBT from this segment rose 45.3% to RM20.0 million in 2Q21, as
\ncompared to RM13.7 million in the same period last year. The improvement was
\nmainly due to higher net interest income as well as trading and investment
\nincome. <\/p>\n
\nPBT contribution from the investment & wealth management division more than
\ndoubled to RM6.2 million due to higher management fee income generated on the
\nback of increased asset under management and sales agency force. <\/p>\n
\nTrade, the Group’s joint venture (“JV”) and Malaysia’s first full-fledged
\nonline equity broker, continued to record solid average monthly account opening
\nat 6,800 accounts for 2Q21. At the end of June 2021, Rakuten had a total of 217,400
\naccounts, 51,600 more than it had a year ago. That, coupled with the
\nscalability of the business have also contributed to the increase in the
\nGroup’s bottom-line. <\/p>\n
\nManaging Director of Kenanga Investment Bank Berhad, Datuk Chay Wai Leong <\/b>commented, “We are
\npleased that the Group continued to report a set of commendable results in the
\nsecond quarter. Economies of scale, particularly in our stockbroking division and
\nRakuten Trade, have helped improve the Group’s profitability. With the digital
\ninfrastructure well in place, the cost of acquiring and maintaining new
\ncustomers has been decreasing as we grow.”<\/p>\n
\nthe average daily trading value on Bursa Malaysia has moderated in the third
\nquarter due to lockdown concerns arising from the resurgence of Covid-19
\ninfections in Malaysia, we remain hopeful that the economy will rebound swiftly
\nas the roll-out of the national vaccination programme gains momentum.”<\/p>\n
\nforward, we will remain focused on strengthening our business fundamentals and
\nexpanding our current offerings to ensure we remain resilient and agile in
\nresponding to the changing needs within the core businesses we operate in.”<\/p>\n
\nplease visit www.kenanga.com.my<\/a><\/p>\n