Dukascopy’s H1 2022 Profit Jumps 195% YoY, Brings in CHF 3.8M

Friday, 29/07/2022 | 05:42 GMT by Arnab Shome
  • Most of the profit was booked in the first four months of H1 2022.
  • The Revenue of the broker also increased significantly from the previous quarters.
dukascopy

Geneva-based Dukascopy Bank SA, a retail forex and CFDs brokerage, reported an increase in revenue and profits for the first six months of 2022, marking a pivot from its previous year’s performance.

Revenue of the broker for the period came in at CHF 14.4 million ($15.1 million), jumping from CHF 11.3 million generated in the same period of the previous year. It was an improvement of over 27 percent from H1 2021 and around 37 percent from H2 2022.

Despite the jump in revenue, the brokerage managed to cut its operational costs, primarily personnel expenses. Its operational cost for the first half of the year was CHF 9.9 million, coming down from CHF 11.39 million.

The Swiss broker generated a net profit of CHF 3.8 million between January and June, which is 195 percent higher compared to CHF 1.44 million generated in the same period of the previous year.

Pivot in Performance

Dukascpoy reported impressive H1 2022 numbers after its net annual profits dropped to CNF 2.1 million in 2021. However, the scaling up of its performance was already witnessed in the first four months of 2022, which was unexpectedly published by the broker.

The Swiss-headquartered broker generated CHF 2 million in profits in the first quarter of 2022, with an additional CHF 1.5 million in April. Going by those figures, the company only made around CHF 300,000 in May and June combined.

Dukascopy, which is regulated in Switzerland, Latvia and Japan, is also enhancing the services for its customers. It launched a peer-to-peer cryptocurrency marketplace and enabled deposits and withdrawals with Tether.

Furthermore, the brokerage service provides gained authorization from the Swiss financial market regulator for offering cryptocurrency custody services.

Geneva-based Dukascopy Bank SA, a retail forex and CFDs brokerage, reported an increase in revenue and profits for the first six months of 2022, marking a pivot from its previous year’s performance.

Revenue of the broker for the period came in at CHF 14.4 million ($15.1 million), jumping from CHF 11.3 million generated in the same period of the previous year. It was an improvement of over 27 percent from H1 2021 and around 37 percent from H2 2022.

Despite the jump in revenue, the brokerage managed to cut its operational costs, primarily personnel expenses. Its operational cost for the first half of the year was CHF 9.9 million, coming down from CHF 11.39 million.

The Swiss broker generated a net profit of CHF 3.8 million between January and June, which is 195 percent higher compared to CHF 1.44 million generated in the same period of the previous year.

Pivot in Performance

Dukascpoy reported impressive H1 2022 numbers after its net annual profits dropped to CNF 2.1 million in 2021. However, the scaling up of its performance was already witnessed in the first four months of 2022, which was unexpectedly published by the broker.

The Swiss-headquartered broker generated CHF 2 million in profits in the first quarter of 2022, with an additional CHF 1.5 million in April. Going by those figures, the company only made around CHF 300,000 in May and June combined.

Dukascopy, which is regulated in Switzerland, Latvia and Japan, is also enhancing the services for its customers. It launched a peer-to-peer cryptocurrency marketplace and enabled deposits and withdrawals with Tether.

Furthermore, the brokerage service provides gained authorization from the Swiss financial market regulator for offering cryptocurrency custody services.

About the Author: Arnab Shome
Arnab Shome
  • 6365 Articles
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6365 Articles
  • 80 Followers

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