The Polish retail broker XTB has published its preliminary financials for the first half of 2022, noting a surge of over 638.4% y/y in the net profit, accounting for PLN 480 million.According to the report, the broker’s operating income was PLN 836.2 million, which is up 245.5% on a yearly basis. Financial and commodity market volatility, as well as their high transaction activity, as measured by the number of contracts concluded in lots, were significant factors determining their level. Therefore, the CFD instruments’ transaction volume reached 3,050.6 thousand lots, and profitability increased by 125,0%, from 122 to 274.The average number of active clients was 149,824 for the period, representing a surge of 42.7% yearly. However, new clients declined by -6.3% y/y to 101,030.Comments from the Management“The ambition of the Management Board in 2022 is to acquire, on average, at least 40 thousand new clients quarterly. As a result of the implemented activities, the Group acquired in the first quarter of this year 55,3 thousand new clients and in the second quarter of this year, nearly 45,7 thousand new clients. In the first 25 days of July 2022, XTB acquired 10,7 thousand new clients,” XTB commented in the report.It added: “The priority of the Management Board is to further increase the client base leading to the strengthening of XTB’s market position in the world. These activities are supported by a number of initiatives, including the new advertising campaign launched on February 14, 2022 with the participation of the new XTB brand ambassador – Joanna Jędrzejczyk – a titled martial arts competitor, the first Polish woman in the UFC organization and a champion in this organization, as well as a three-time world champion in Thai boxing.”
This article was written by Felipe Erazo at www.financemagnates.com.
