Kenanga aims to grow core businesses

PETALING JAYA: Kenanga Investment Bank Bhd (KIBB) will focus on growing its core businesses, while accelerating its digital transformation.

In a statement, its group managing director Datuk Chay Wai Leong said by strengthening recurring income streams, optimising cost efficiencies and expanding product offerings, the group will be positioning itself for sustainable, long-term growth.

For the fourth quarter ended Dec 31, 2024, the investment bank’s net profit rose to RM48.95mil from RM22mil in the previous corresponding period, while revenue improved to RM326.5mil from RM223.3mil a year earlier.

For its financial year ended Dec 31, 2024 (FY24), net profit rose to RM95.76mil from RM72.64mil in tFY23, while revenue grew to an all-time high of RM1bil from RM821.06mil previously.

KIBB declared an interim single-tier dividend of eight sen per share for FY24.