SET-listed Maybank Kim Eng Securities (Thailand) Plc (MBKET) plans to boost its market share to 15% by 2020 to retain its leading position in local stock brokerages.
To achieve the goal, the company plans to increase its trading accounts to more than 200,000 by 2020 from 170,000 now, co-chief executive Boonporn Boriboonsongslip said yesterday.
The brokerage house has maintained its leadership for 13 years in a row, enjoying a market share of 10.6% in 2014.
Retail investors are the company's main customers with a market share of 14.6%.
Next are institutional investors at 5.55% and foreigners at 2.33%.
Retail will remain the focus as the company targets a market share of 22% in the segment over the next five years.
Maybank Kim Eng will open more kiosks this year and hire 200-300 additional investment consultants to reinforce the current 800.
Co-chief executive Montree Sornpaisarn said 2015 would see the launch of new products with a focus on single-stock futures and derivative warrants.
The investment banking team is working on up to seven deals with a combined fund-raising amount of 10 billion baht.
Maybank Kim Eng achieved revenue of 4.43 billion baht last year for a net profit of 1.25 billion.
Trading commission fees contributed 71% of net profit.
This was followed by interest revenue (21%), investment banking (5%) and other services.
Managing director Sukit Udomsirikul predicts the SET index will reach 1,650 points in the first half of this year, with full-year GDP growth of 4% and earnings growth for listed companies of 20%.
A potential hike in value-added tax, which would erode consumer confidence, is the economy's chief concern. he said.
Political risk could also heighten next year, Mr Sukit added.
MBKET shares closed yesterday on the SET at 25.50 baht, up 25 satang, in trade worth 11.1 million baht.