Dukascopy Bank, a Swiss retail
forex and CFDs brokerage and retail banking provider,
released its annual report for the financial year 2022 on Thursday, reporting the second-highest profit in the group’s history. The
firm’s net profit skyrocketed 207% to CHF 6.4 million, which is up from CHF 2.1
million in 2021. Dukascopy Generates Profit across BoardHowever, the figure is below the
CHF 10.4 million net profit the firm generated
in 2020, which remains the group’s highest profit year. In addition, the firm said all of its consolidated subsidiaries, including brokerages
Dukascopy Japan and Dukascopy
Europe, remained profitable during the past year.In the report, Dukascopy noted that it achieved the milestone despite “a very difficult market
environment” that saw businesses battle with the Russia-Ukraine War, high inflation and rising interest rates. The
surge in profit even as the Swiss brokerage’s operating expenses declined
marginally by -4% year-over-year to CHF 19.6 million.Furthermore, the company’s
operating income jumped 21% to CHF 27.4 million in 2022, which is up from CHF 22.7
million in the prior year. However, the figure pales in the face of CHF 40.1
million returned as operating income in 2020.Additionally, Dukascopy’s total
assets grew 6% from CHF 184.5 million in 2021 to CHF 196.3 million last
year. Total assets have improved significantly from CHF 162.7 million recorded
in 2020.Still focused on growth in 2022, the firm’s
total client deposits increased by 4% to CHF 131.3 million, which is up from CHF 125.9
million last year. Over the last two years, client deposits shot up from
CHF 105.3 million in 2020.“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,”
Veronika and Andrey Duka, Dukascopy’s Co-CEOs explained.Dukascopy Expands Brokerage ServiceAccording to Dukascopy,
brokerage services for trading accounts remained the main source of its operational
revenue last year. Over the course of the year, the broker said it added over
450 new tradeable instruments to its trading platform. Some of the newly added instruments are indices and stock CFDs on United States and Mexican companies.“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,”
Dukascopy noted, adding that the number of tradeable instruments on its MetaTrader 4 platform climbed to 109 by year-end.“All top traded instruments are
made available,” Dukascopy added, speaking on its MetaTrader 4 offerings. “In the near future, Dukascopy is
planning to announce the launch of the MT5 trading platform to further widen
the breadth of its reach.”LSEG and Deutsche Bank results; crypto in Hong Kong; read today’s news nuggets.
This article was written by Solomon Oladipupo at www.financemagnates.com.
