Interactive Brokers (UK) Limited, one of the leading financial trading services providers, recently released its financial results for the year ended 31 December 2021. For the reported period, the company posted a pre-tax profit of £22 million, compared to £15.3 million in 2020.In addition to the 43% surge in profit before taxation, Interactive Brokers UK witnessed a sharp jump in other operating income. Overall, the financial firm posted strong growth across different segments.However, the company witnessed a net decrease in the number of clients in the last year. According to the details published by the firm, net commissions dipped in 2021.“As of 31 December 2021, the company was carrying broker for 29,375 clients, compared to 53,895 clients in 2020. The net decrease in the number of clients was mainly driven by the transfer of clients to the affiliated entities following the UK’s departure from the European Union. The number of carried client accounts decreased by 45.5%. Net commissions decreased to £36,273 thousand for the year ended 31 December 2021, compared to £42,348 thousand in 2020,” Interactive Brokers UK noted in its recent report.CapitalIn addition to the company’s solid performance in financial metrics like profits and operating income, Interactive Brokers UK Limited saw a jump in total capital.Total capital by the end of the last year (31 December 2021) stood at £153.6 million, which is a jump of more than 13% compared to £134.9 million in 2020.
This article was written by Bilal Jafar at www.financemagnates.com.
