Kenanga IB posts RM34.16m net profit in 1QFY21

Kenanga Investment Bank group managing director Datuk Chay Wai Leong said the group’s digital strategy has proven invaluable in these trying times.

KUALA LUMPUR: Kenanga Investment Bank Bhd (Kenanga IB) posted net profit of RM34.16mil in the first quarter ended March 31,2021 which was a turnaround from the net losses of RM6.95mil a year ago.

In its statement on Monday, it said the previous net loss was mainly due to provision of credit loss expenses which has progressively been reversed over the quarters.