Dubai Financial Market reports +77% net profit and +31% revenue in H1 2023

Rick Steves

“DFM remains steadfast in its commitment to deliver sustainable value to all stakeholders. Underpinned by the current positive momentum, DFM is well poised to achieve its strategic goals and strengthen its role as a global financial centre that meets the evolving needs of its valued clients and stakeholders”.

Dubai Financial Market (DFM) has reported a net profit of AED 112.2 million in the first half of 2023, an increase of 77% from the same period last year.

In its financial results for the period ending June 30, 2023, DFM revealed that revenue also saw significant growth, increasing 31% year-on-year to AED 215.2 million in the first half of 2023, from AED 163.8 million last year.

According to DFM, the key factors that contributed to such a strong Q2 was the successful listing of Al Ansari Financial Services, a family-owned company, which was very well received by the market, and DFM’s London roadshow which was also a resounding success, attracting great interest from international investors.

DFM attracted 25,699 new investors in H1 2023

In the first half of this year, DFM attracted 25,699 new investors, 74% of which were foreign investors, DFM noted.

Revenue includes AED 128.6 million in operating income and AED 86.6 million in investment returns and other income. Meanwhile, total expenses reached AED 103 million compared to AED 100.4 million in the same period in H1 2022.

During the second quarter of 2023, DFM’s revenue reached AED 126.3 million compared to AED 85.2 million during Q2 of 2022, while expenses amounted to AED 49.7 million, compared to AED 49.3 million during Q2 of 2022.

The DFM General Index posted an impressive growth of 14%, closing at 3,972 points while market capitalization increased by 12% to AED 652 billion.

“DFM is well poised to achieve its strategic goals and strengthen its role as a global financial centre”

Hamed Ali, CEO of DFM and Nasdaq Dubai, commented: “DFM’s noteworthy half year performance cements the Exchange’s position as a leading financial market in the region. Foreign investors maintained a strong presence, accounting for 48% of the trading value during the first half of the year, with net purchases amounting to AED 3.27 billion. Their share in market capitalization reached 20% by the end of June 2023. In addition, institutional investors had a significant share of 57% of the trading value, with net purchases of AED 630 million.

“These impressive numbers demonstrate the confidence and strong interest of market participants in the lucrative trading and investment opportunities in Dubai capital markets. In addition, we have introduced omnibus accounts during this period, offering highly beneficial and diversified investment opportunities to our valued clients.

“DFM remains steadfast in its commitment to deliver sustainable value to all stakeholders. Underpinned by the current positive momentum, DFM is well poised to achieve its strategic goals and strengthen its role as a global financial centre that meets the evolving needs of its valued clients and stakeholders”.

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