PETALING JAYA: Kenanga Investment Bank Bhd
’s stockbroking division returned to profitability in the first quarter ended Mar 31, 2026 (1Q26), helping cushion the group against weaker contributions from several other business segments amid a challenging market environment.
In a statement, the group said the stockbroking division recorded revenue of RM78.7mil in 1Q26, up from RM73.4mil a year earlier, while posting a profit before tax (PBT) of RM2mil compared with a loss before tax of RM4.6mil in the corresponding quarter last year.
The improved performance was driven by stronger brokerage fee income as well as higher trading and investment income on the back of increased trading volumes.
At the group level, Kenanga posted revenue of RM208.6mil for the quarter, marginally lower than RM209.6mil previously, mainly due to lower interest, trading and investment income.
Group PBT declined to RM6.9 million from RM15.4 million a year ago, while the quarter's net profit fell to RM4.19mil from RM9.77mil a year ago.
The group said earnings were affected by higher personnel and information technology expenses during the quarter, although this was partly mitigated by higher fee income and lower interest expenses.
Its asset and wealth management division registered a 10% increase in revenue to RM68.9mil from RM62.6mil previously, supported by higher gross management fee income and stable net inflows.
Its assets under administration rose to RM25.8bil.
