Maybank Kim Eng Securities (Thailand) Plc.’s net profit for the three-month period ended March 31, 2021 was Baht 276.73 million, increase of 105.47% or Baht 142.05 million from the same period of last year.

Mr. Arapat Sangkharat, Deputy Chief Executive Officer, Maybank Kim Eng Securities (Thailand) Plc.

disclosed the Company’s net profit for first quarter 2021 was Baht 276.73 million, increase of 105.47%. or Baht 142.05 million from net profit of Baht 134.68 million from the same period of last year.Our brokerage fees income increased by 35.12% or Baht 178.38 million, from Baht 507.94 million to Baht 686.32 million. The reasons were brokerage fees from Securities Business increased by 46.07% or Baht 203.83 million, from Baht 442.42 million to Baht 646.25 million as a result from the average daily trading value increased by 44.92% from Baht 66,901.38 million per day to Baht 96,950.96million per day coupled with the proportion of retail brokerage fee which is the main contribution to the Company revenue increased from 37.81% to 47.33%. As a result, average trading value of retails increased by 81.40% from Baht 25,293.81 million per day to Baht 45,882.65 million per day. Brokerage fees from Derivatives Business decreased by 38.84% or Baht 25.45 million, from Baht 65.52 million to Baht 40.07 million.

Fee and service income increased by 205.77% or Baht 28.19 million, from Baht 13.70 million to Baht 41.89 million derived from increase in underwriting fee of Baht 11.77 million, increase in financial advisory fee of Baht 7.09 million and increase in other service fees of Baht 9.33 million.

 Other income decreased by 4.23% or Baht 9.72 million, from Baht 229.79 million to Baht 220.07 million. It was derived from decrease in interest income on margin loans by Baht 11.31 million and decrease in interest income on bank deposits and government bonds by Baht 19.16 million against with increase in gain and returns on financial instruments of Baht 18.77 million and increase in other income of Baht 1.98 million.

Total expenses increased by 3.52% or Baht 20.46 million, from Baht 581.50 million to Baht 601.96 million. It was derived from increase in employee benefit expenses by Baht 37.27 million, increase in fee and service expenses by Baht 2.93 million, increase in expected credit losses by Baht 1.92 million and increase in other expenses by Baht 5.22 million against with decrease in interest expense by Baht 26.88 million. Corporate income tax increased by 97.42% or Baht 34.34 million, from Baht 35.25 million to Baht 69.59 million due to increase in profit before income tax.

“We are extremely satisfied with our operating results and on milestones achieved in building the platform to offer new investment solutions that are tailored to specific client segments,”  Mr. Arapat added.