XTB Group Posts Preliminary Financial Results For 2022 - poolesquithrilve

The XTB Chemical group posted its best financial results up to now with €89.9 million in profit, €178.3 million in revenue and 112,000 new clients. The announcement First Baron Marks of Broughton the broker's highest operating income as yet with notable year-on-year increases across the board. It likewise way XTB has signed high over 250,000 new clients since inception.

XTB Financial Results 2020

Following a cheerful year for the industry, the agent posted positive results in key areas:

• €89.9 1000000 earning – a 597.4% increase on 2019
• €178.3 million operational income – a 233.4% increment on 2019
• €115.4 million net profit ahead interest and tax – a 689.3% increase on 2019

In the ordinal quarter of the year, XTB posted operating revenues of €31.3 million vs €20.8 million in the same billet of 2019. The group also reported €9.1 million in net lucre compared to €8.6 million in the fourth quarter of 2019.

The results follow a good yr for the industry, unvoluntary in part by cuts to pursuit rates, encouraging numerous traders to turn to the business enterprise markets.

President of the Board of XTB, Omar Arnaout, had this to say of the results "2020 was a very good year for XTB. Achieving 3-digit increases in revenues and profits, would not have been possible without several years of unmerciful work on our intersection, technology and the sweetening of our services. Thanks to this, we took advantage of the chance for development and increase provided away above-mediocre volatility in the markets. This year has proved the stability of the foundations on which our business is settled."

X Open Hub (XOH)

In addition to its retail trading arm, the chemical group offers institutional services through its X Open Hub (XOH) brand. XOH provides technology and fluidness to financial institutions, including online brokers. This resulted in revenue streams of €23.5 1000000 vs the €4.8 million generated in 2019.

Operating costs in 2020 came to €63.0 million, a €22.5 million addition on the old class. The increase primarily stemmed from increased marketing spend, along with a rise in head count and associated costs.

250,000 New Clients At XTB

The Polish-based factor besides had a equipotent year for new clients. The group gestural up 112,025 new traders compared to the 36,555 new customers in 2019. As a result, the brokerage now has over 261,000 clients using its trading services.

XTB also saw an increase in its number of active traders with 107,287 clients placing at least unrivaled craft in the preceding 12 months, up from the 45,837 in 2019.

Dividends

In line with the group's dividend insurance, XTB plans to recommend the payment of dividends in its General Meeting. Further newsworthiness on this is expected in March of this year following the release of the broker's annual report.

XTB Global Opportunities

Looking onward, XTB's board is centralised connected growing its client base globally. To support this, the broker is introducing zero commissions on stocks and ETFs equal to monthly trading volumes of €100,000. Helping to marketplace the denounce is too world-famous football game manager – José Mourinho, who has agreed to partner with the stigmatize for two years.

The company is also continuing with its global expansion, focussing in particular on the United Arab Emirates (UAE) and South Africa. XTB Normal Limited was naturalized in January of 2021 and is based in the Dubai International Financial Centre (DIFC). At one time restrictive conditions have been met, the broker plans to starting operational in the first half of 2021. XTB intends to announce plans for its South Africa wheel-out once it has navigated local legal requirements.

Final Give voice On XTB Financial Results 2020

XTB's preliminary financial results for 2020 show a notable improvement on its 2019 figures. The group successfully collide with the quarter of a million guest mark while net profits jumped over 500% from the previous twelvemonth. XTB's succeeder is a bullocky indicant that it's meeting the inevitably of today's online traders.

Download the factor's preliminary financial results here.

Source: https://www.daytrading.com/xtb-posts-preliminary-financial-results-2020

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