Friday, May 24, 2024

27.5 million dirhams in first quarter, Dubai Financial gains 17%


The Dubai Financial Market Company reported a net profit of 27.5 million dirhams in the first quarter of 2022, up 17% from the same period in 2021, which was 23.4 million dirhams. The first quarter of the current year ends March 31, 2022.

The company’s total consolidated revenue for the first quarter of 2022 increased by 7% to 78.6 million dirhams, compared to 73.4 million dirhams in the first quarter of 2021.

Revenue of 55.9 million dirhams was distributed through operations and 22.7 million dirhams through investments and other. Operating costs were 51.1 million dirhams, compared to 50 million dirhams.

Hilal Al-Marri, Chairman of the Board of Directors of the Dubai Financial Market Company, said: “Trading activity in the Dubai Financial Market has accelerated in the first quarter of 2022, confirming its remarkably positive trajectory in the previous quarter. Announcement of an ambitious strategy to improve the financial markets in Dubai and stabilize its position. The Emirate is a global financial hub in the vision of rational leadership.

He added: “Accordingly, the trade value increased by 48% to 22.8 billion dirhams in the first quarter, up from 15.4 billion dirhams in the same quarter last year, the general index increased by 10.3% to 437.4 billion dirhams, compared to its level of 6.4 at the end of 2021. % Increase. Foreign investors maintained their significant presence in the market and gained 45.8% of its trading value in the first quarter, with a net investment of 2.1 billion dirhams, and their share of the total market value at the end of March 2022 was 23.2%. In the same context, the share of investment firms in total trade value was 51.6%. Net investment through purchase of 651 million dirhams.

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“The market attracted 51,404 new investors in the first quarter of this year, of which 73.4% were foreign investors, bringing the total number of registered investors in the market at the end of March 2022 to 903,077 investors owning 209,” al-Marri explained. Nationalities, which reflects its continued attraction to investors and their growing interest. It is an opportunity offered through trade or by participating in public offerings.

Al-Marri concluded: “In the first quarter of 2022 the market advanced in implementing its strategic plans to consolidate its position as the main gateway for investment as it is now considered one of the regional markets offering a wide variety of stocks, futures contracts, securities, securities and real estate investment. Financial products, including finance, such as transactional trade funds. Through channels or by expanding services that facilitate investor market access, by providing investor numbers or participating in public offerings. Have made improvements. Business partners of brokerage firms and financial institutions Banking and other.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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