Edward Lee’s COL is top stock broker in first half, profit hits record P322M
COL Financial Group emerged as the number one broker in the Philippine Stock Exchange in the first half with its market share surging to 8.1 percent.
COL’s average daily turnover in the PSE increased by 22.5 percent to P1.2 billion in the first half of the year.
Net earnings soared 50.1 percent to an all-time high P322.2 million, driven by strong growth across COL’s business segments.
Revenues soared 33.7 percent, buoyed by a 25.5 percent jump in commissions.
Clients across all segments added to their accounts, nearly doubling net new flows from Philippine operations to P4.7 billion.
Apart from this, total client equity from Philippine operations weet up 3.2 percent to P70.5 billion despite the market’s 15.3 percent decline.
“We’re pleased to see that our clients continue to add to their portfolios to build wealth over the long term, notwithstanding the current market environment,” said Dino Bate, president & CEO of COL.
“I believe that this also signifies their confidence in our company, as they entrust more of their assets to us,” he added.