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#1 04-02-2022 13:49:37

johnedward
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From: Paris - France
Registered: 21-12-2009
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XTB reports 69% increase in its quarterly profits

XTB reports 69% increase in its quarterly profits


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Polish broker XTB has released its preliminary financials for the fourth quarter of 2021, reporting a 31.1% year-on-year jump in operating profit. Other key metrics also improved significantly.

In absolute terms, operating profit for the quarter amounted to PLN 183.7 million. Although total operating expenses increased, the broker ended the quarter with a net profit of 238.2 million, or 69%. In addition, EBIT improved by 47% year-on-year to 83 million.

However, the consolidated annual figures fell short of the record year of 2020. The broker generated an operating profit of PLN 625.5 million and a net profit of PLN 238.2 million, down by 21.7% and 40.8% respectively.

Improvement in customer activities
Parameters relating to customer activities improved significantly, both in the last quarter and for the year as a whole. In the last three months of the year, XTB welcomed 42,755 new customers, 11.4% more than the previous year. For the year as a whole, this figure jumped by 69% to 189,188 customers.

The average number of active customers in 2021 increased by 93% to 112,020. For the quarter, this number rose to 127,180, an improvement of 75.9%. Contracts for Difference (CFD) trading volume increased by 34% for the quarter and 29.4% for the year.

At the same time, XTB is aggressively expanding its presence in foreign markets, particularly in the Middle East and Africa. The brokerage group's new MENA subsidiary began offering its services last October. Although XTB has already received a licence in South Africa, it has not yet started operations there.

About XTB

XTB Group is a leading provider of crypto CFDs alongside 2,100 forex, stock, index, commodity and ETF CFDs. The multi-regulated broker holds licenses with several trusted agencies, including the UK's Financial Conduct Authority (FCA) and the Cyprus Securities & Exchange Commission (CySEC).

Clients can invest and speculate with up to 1:30 leverage and can use the broker's mobile trading alert service to gain market insight. XTB offers two real accounts, aimed at retail traders and professional investors.

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