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Kenanga Investment Bank Posts 119% Jump in Net Profit, Revenue Rises to RM204.2 million for 1Q 2024

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Kuala Lumpur: Kenanga Investment Bank Berhad (“Kenanga” or “Kenanga Group” or “the Group”) today announced its financial results for the first quarter ended on 31 March 2024 (“1Q24”).

Kuala Lumpur: Kenanga Investment Bank Berhad today announced its financial results for the first quarter ended on 31 March 2024 .

Furthermore, its Asset Under Administration expanded to RM22.8 billion, up 9.6% from the same quarter last year. PBT for this quarter stood at RM7.6 million.For its Listed Derivatives business, the enterprise registered a 3.3% growth in revenue to RM6.3 million in 1Q24, largely attributed to higher commission and interest income generated as a result of higher trading activities.

We do not expect further credit provisions that would significantly impact equity broking’s financial performance for the rest of the year. “We remain cautiously optimistic of the outlook for Kenanga Group as we continue to be vigilant in monitoring market uncertainties.

 

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