Local retail investors are driving up COL Financial of bilyonaryo Edward Lee to new highs.

COL’s profits nearly doubled year on year to P583.2 million in the first nine months of 2021. Commission revenues soared 70 percent year on year to P817.9 million from January to September 2021.

“More retail investors opened accounts as they were encouraged by the strong performance of the stock market last year and the active trading of third line issues in early 2021. The lockdowns also gave them more time to trade and invest in the stock market,” said COL.

Local investors accounted for 70 percent of total turnover (from 53 percent historically) with foreign investor demand shrinking 6.7
percent.

While Philippine Stock Exchange Index was lower by 2.6 percent as of September 30 from the start of 20201, value turnover swelled by 32 percent to P1.6 billion average per day during the same period.

COL remained as the go-to site for online stock trading with its client base expanding by almost 20 percent year on year to 478,673 accounts as of end-September.

Its market share climbed to 9.9 percent from seven percent during the same period.

With more than P1 billion in net cash pouring in every month and investors trading more high value stocks, COL’s net equity ballooned year on year by 42 percent to P111.5 billion as of September 2021.

The post Higher COLing: Edward Lee’s brokerage house nears 500k clients, 10% market share first appeared on Bilyonaryo Business News.



Higher COLing: Edward Lee’s brokerage house nears 500k clients, 10% market share
Source: Filipino Daily Inquirer