Dukascopy ends 2022 with a 200% jump in profit

Swiss financial trading services provider Dukascopy Bank SA has released its annual financial results for 2022, reporting the second-highest profit in the company’s history.

The Geneva-based retail forex and CFDs brokerage posted net revenue of CHF 6.4 million for last year, seeing a 204.8% surge from the CHF 2.1 million in 2021.

The number is still below the CHF 10.4 million recorded in 2020 when the firm reported its highest profit ever.

Dukascopy bank

Additionally, the Group revealed that its consolidated subsidiaries, including Dukascopy Japan and Dukascopy Europe, were also profitable in 2022.

Veronika and Andrey Duka co-Chief Executive Officers, said:

Despite all complexities and challenges of the financial year 2022, the Bank’s profit is 200% higher than the profit for 2021. All of the Bank’s subsidiar ies were also profitable. The conservative asset allocation and liquidity management policies allowed the Bank to successfully traverse a year of extremely high market turbulence and instability, and to await with confidence and optimism further development of the Bank’s business in 2023.

Operating income last year jumped 20.7% to CHF 27.4 million from the previous year’s CHF 22.7 million. The group reduced operating expenses by 0.5% during that period to CHF 19.6 million.

The company’s total assets grew to CHF 196.3 million by 6.4% from CHF 184.5 million the prior year. Client deposits increased 4.3% to CHF 131.3 million from 2021’s CHF 125.9 million.

Dukascopy highlighted that its brokerage services for trading accounts were the main source of operational revenue last year. According to the official announcement, the company added over 450 new tradable instruments to its trading platform in 2022, including indices and stocks from US and Mexico.

The company stated:

A total of 1,160 instruments, including FX, bullion, CFDs on commodities, bonds, indices, cryptos, stocks, ETFs are presently available on the bank’s proprietary trading platform JForex.

The MT4 platform also continued to find its clients and the number of tradeable instruments has reached 109 at the end of 2022. All top traded instruments are made available. In the near future, Dukascopy is planning to announce the launch of the MT5 trading platform to further widen the breadth of its reach.

Tags:

Read Also: