Maybank’s Thai unit to expand advisory, derivative businesses

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BANGKOK (June 13): Company expects more revenue from advisory services for equity IPOs and bond sales to compensate for weak income from stock trading service, CEO Montree Sornpaisarn tells investor meeting.

* “Competition in equity trading business is very fierce. It’s time for us to focus on profitability rather than market share,” says Montree
* Company also recruited new team to expand its derivative business
* NOTE: May 2, 1Q net slid to 148.8m baht vs 256.9m baht y/y
* NOTE: Shares -33% this year vs SET Index’s 1.9% decline