Kenanga Investment posts record net profit in FY20 | Malay Mail

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KUALA LUMPUR, Feb 25 — Kenanga Investment Bank Bhd posted a record net profit of RM102.1 million in the financial year ended December 31, 2020 (FY20), almost quadrupling its net profit of RM26.39 million recorded in FY19. Consolidated revenue rose to RM973.8 million in FY20 from RM651.3 million...

Consolidated revenue rose to RM973.8 million in FY20 from RM651.3 million previously, the investment bank said in a filing with Bursa Malaysia today. — Bernama picKUALA LUMPUR, Feb 25 — Kenanga Investment Bank Bhd posted a record net profit of RM102.1 million in the financial year ended December 31, 2020 , almost quadrupling its net profit of RM26.39 million recorded in FY19.

On its fourth-quarter performance, the bank’s net profit had more than quadrupled to RM39.3 million from RM8.71 million in Q4 2019, while revenue increased to RM276.8 million from RM166.2 million previously. He said in contrast to the pandemic’s negative impact on global economies, most stock markets around the world experienced a remarkable and protracted surge in trading volumes, underpinned by reignited retail interest.

 

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