Swiss financial transaction services provider Dukascopy Bank SA has announced its annual financial results for 2022, reporting the second highest profit in the company’s history.
The Geneva-based retail FX and CFD broker recorded net revenues of CHF 6.4 million last year, up 204.8% from CHF 2.1 million in 2021.
The figure is still below the CHF 10.4 million recorded in 2020, when the company reported record profits.
Additionally, the group revealed that its consolidated subsidiaries, including Dukascopy Japan and Dukascopy Europe, will also be profitable in 2022.
Co-CEOs Veronika and Andrey Duka said:
Despite all the complexities and challenges of fiscal year 2022, the bank’s profits are 200% higher than those in 2021. All of the bank’s subsidiaries were also profitable. With our conservative asset allocation and liquidity management policies, we have successfully weathered a very severe market turmoil and volatile year and look forward to further development of our business in 2023 with confidence and optimism. I made it.
Last year’s operating profit was CHF 27.4 million, up 20.7% from CHF 22.7 million in the previous year. The group has reduced its operating expenses by 0.5% over the period to CHF 19.6 million.
The company’s total assets reached CHF 196.3 million, up 6.4% from CHF 184.5 million in the previous year. Customer deposits increased by 4.3% to CHF 131.3 million from CHF 125.9 million in 2021.
Dukascopy emphasized that brokerage services for trading accounts were the main source of operating income last year. According to the official announcement, the company has added over 450 new tradable instruments to its trading platform in 2022, including US and Mexican indices and stocks.
The company said:
A total of 1,160 products are currently available on the bank’s proprietary trading platform JForex, including FX, bullion and commodity CFDs, bonds, indices, cryptocurrencies, stocks and ETFs.
The MT4 platform continues to find clients as well, with the number of tradable instruments reaching 109 by the end of 2022. All top trading instruments are available. In the near future, Dukascopy will announce the launch of his MT5 trading platform, further expanding its reach.