Kenanga Investment Bank Berhad<\/a> (“Kenanga” or the
\n“Group”) today announced a net profit of RM86.5 million for the nine months
\nperiod ended September 30, 2021 (“9M21”), a 37.4% jump from RM63 million for
\nthe same period last year (“9M20”). <\/p>\n\u00a0<\/p>\n
Year-to-date (YTD) net income
\nstood at RM586.3 million, up by 1.4% from the previous corresponding period,
\nwhile operating expense reduced marginally to RM490.7 million. \u00a0Annualised Return on Equity (ROE) based
\non 9M21 is at 11.3% compared to 9.0% at 9M20. <\/p>\n
\u00a0<\/p>\n
The strong earnings were mainly
\ndue to higher contribution from stockbroking and investment management
\nbusinesses, as well as, share of profits from the joint venture with Rakuten
\nTrade Sdn Bhd.<\/p>\n
Its Stockbroking division achieved
\na PBT of RM68.8million for 9M21 vis a vis RM52.7million from the same period last
\nyear, mainly due to higher net interest, improved net trading and investment
\nincome, as well as, lower credit loss expenses. Net equity trading investment
\nincome increased to RM56.0 million, up 40.2% from the corresponding period. The
\ndivision continued to grow its market share, particularly in the retail
\nsegment, from 21.9%, to 23.5%, reinforcing its position as one of the largest
\nretail brokers in the marketplace. During the same period, Rakuten Trade,
\nachieved yet another milestone, with the fast-growing online trading platform
\nsurpassing 200,000 registered accounts.\u00a0 <\/p>\n
\u00a0<\/p>\n
Its Investment and Wealth Management
\ndivision registered record high PBT, surging over three folds to RM20.6 million
\nin the nine-month period compared to RM7.6 million in the same period last
\nyear. The significant increase was attributed to higher performance fee and
\nmanagement fee income generated on the back of increased assets under administration
\n(AUA) and sales agency force. AUA stood at RM16.3 billion, up 18.4% from the
\nsame period last year. <\/p>\n
\u00a0<\/p>\n
For the quarter under review,
\nnet revenue and profit before tax were impacted by the weakening trading
\nvolumes on Bursa Malaysia, which resulted in lower net brokerage and trading
\nand investment income. For Q3 2021, net revenue stood at RM202.6 million, while
\nprofit before tax stood at RM26.3 million. <\/p>\n
\u00a0<\/p>\n
“With the gradual reopening
\nof all economic sectors and lifting of restrictions, underpinned by the
\nprogress of COVID-19 vaccination campaign, deployment of stimulus measures and
\nthe unleashed pent up demand, we remain cautiously optimistic of the country’s
\neconomic outlook into the new year,” commented Datuk Chay Wai
\nLeong, Group Managing Director, Kenanga Investment Bank Berhad. <\/p>\n
\u00a0<\/p>\n
“Having said that, we are
\nwitnessing a deceleration in trading activities not just on Bursa Malaysia, but
\nalso on some of the other major bourses around the world. This will likely have
\nsome impact on our following quarter’s revenue, but on the whole, benefiting
\nfrom the strength of our diversified revenue streams, we are on track to
\nconclude the year on a footing comparable to the performance last year,” added
\nDatuk Chay. <\/p>\n
\u00a0<\/p>\n
“With our business model
\ncentred on digitalisation, and the continued practice of prudence throughout
\nour operations, we are in a good position to continue growing the business and
\ndeliver long-term shareholder value,” said Datuk Chay. <\/p>\n
For
\nmore information on Kenanga Group, please visit www.kenanga.com.my<\/a>. <\/p>\n\u00a0<\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
KEY HIGHLIGHTS
9M2021 vs 9M2020
Net
Profit at RM86.5 million, up by 37.4%
Net
Income at RM586.3 million, up by 1.4%
Operating
Expense at RM490.7 million, down by 1.7%
Return
on Equity at 11.3%, up from 9%
Earnings
Per Share at 11.86 …<\/p>\n","protected":false},"author":1,"featured_media":18995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18994"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=18994"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18994\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/18995"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=18994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=18994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=18994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}