Kenanga Investment Bank Bhd net profit increased 3.6 times to RM20.47 million for the second quarter ended June 30, from RM5.6 million posted in the same quarter of the previous year contributed by higher brokerage fees, trading and investment income as well as management fee income, in addition to a first time share of profits from its joint venture company, Rakuten Trade.
Kenanga’s revenue for the period rose 15% to RM374.84 million from RM325.69 million reported previously. Kenanga noted that the recent market volatility has catalysed a surge in participation from local retail investors, fuelling record-high trading activities in the equities market.
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