Maybank Securities (Thailand) Public Company Limited, or MST reported the company’s operating results for the year ended December 31, 2021, with net profit of THB760.79 million, an increase of THB276.34 million or 57.04 % from net profit of THB484.45 million for the same period of last year.
Mr. Arapat Sangkharat, Chief Executive Officer, Maybank Securities (Thailand) Plc. or MST disclosed the Company’s net profit for the year ended December 31, 2021 was THB760.79 million, increase of 57.04 % or THB276.34 million from net profit of THB484.45 million for the same period of last year. The main variances compared to last year were the brokerage fees income increased by 25.30% or THB500.14 million, from THB1,976.45 million to THB2,476.59 million. The reasons were brokerage fees income from Securities Business increased by 29.30% or THB525.34 million, from THB1,792.76 million to THB2,318.10 million as a result from the average daily trading value increased by 36.79% from THB68,606.91 million per day to THB93,845.64 million per day coupled with the proportion of retail brokerage fee which is the main contribution to the Company revenue increased from 43.66% to 46.52%. As a result, average trading value increased by 45.75% from THB29,956.10 million per day to THB43,660.58 million per day. Brokerage fees from Derivatives Business decreased by 14.15% or THB25.99 million, from THB183.69 million to THB157.70 million. Other brokerage fees, which are mostly derived from tender offer service, increased by 100% or THB0.79 million.
Fee and service income increased by 51.36% or THB71.43 million, from THB139.09 million to THB210.52 million derived from increase in underwriting fee of THB36.11 million, increase in financial advisory fee of THB9.34 million and increase in selling agent fee income of THB33.36 million while other service fees income decreased by THB7.38 million. Other income increased by 28.92% or THB203.13 million, from THB702.28 million to THB905.41 million. It was derived from an increase in income from interest on margin loans by THB172.55 million, increase in gain on investments and derivatives by THB82.53 million against a decrease in other income by THB51.95 million.
“The Company’s financial performance last year exceeded our targets and expectations. We thank everyone in this collaborative effort to deliver service and commitment to our clients.
In 2022, we are ready to push forward our growth agenda with full strength. We see the operating outlook turning favorable as the pandemic becomes endemic and lifestyle returns to normalcy. Economic activity should revive allowing households to rebuild income and the rest will follow the natural progression of recovery from improving consumption that in turn jump starts the capex cycle hence complementing and magnifying the benefits of resilient exports that has been cashing in on the global recovery.
We see the Thai Securities industry remaining vibrant bolstered by regaining confidence and strong impetus to rebuild wealth. Amidst ever increasing competition we have high confidence in our cadre of experienced Relationship Managers and Investment Consultants to propel forward the wealth management service that we launched last year. We are ready to meet the challenges as we remain committed to advance our agenda of democratizing access to investing for all,” added Mr. Arapat.
