BHM Capital Financial Services records a net profit of 14.78 million dirhams
07-20-2023 09:53 PM
Ammon – BHM Capital Financial Services, one of the leading financial institutions in the capital markets in the United Arab Emirates, announced an increase in its net profit in the first half of the current year 2023 by 63.4%, to record 14.78 million dirhams, compared to 9 million dirhams in the same period last year.
The company achieved an increase in total assets by 10%, to reach 831.6 million dirhams, compared to 757.1 million dirhams at the end of 2022. The return from trading commissions and advisory fees increased by 44%, to record 33.9 million dirhams, compared to 23.5 million dirhams in the same period last year, while other sources of income, including financing and margin trading revenues, contributed to an increase of 52% in the return from margin financing, reaching 1%. 7.06 million dirhams compared to 11.1 million dirhams in the same period last year, bringing the total revenues to jump by a growth rate of 42% and record 58.8 million compared to 41.4 million dirhams in the first half of 2023, in addition to BHM Capital’s acquisition of 3254 new investor accounts during the first half of this year, which reflects an increase of 103% over the number of accounts registered in the same period last year, which numbered 1600 accounts.
Abdulhadi Al-Saadi, CEO of BHM Capital for Financial Services, commented: “We are proud of achieving this positive increase in the company’s net profits, and these results in the first half of this year reflect the strong performance in all our services and the great growth opportunities that establish the company’s leading position and excellence in quality. promising opportunities that we will implement to take advantage of the full potential of our strategy.
Abdul Hadi Al-Saadi added: “BHM Capital achieved many achievements during the first half of this year, including the company obtaining the first license to practice crowdfunding platform operator activity from the Emirates Securities and Commodities Authority, which allows the company to provide crowdfunding platform operator service through an electronic platform, to finance entrepreneurs and small and medium enterprises.”
Ammon – BHM Capital Financial Services, one of the leading financial institutions in the capital markets in the United Arab Emirates, announced an increase in its net profit in the first half of the current year 2023 by 63.4%, to record 14.78 million dirhams, compared to 9 million dirhams in the same period last year.
The company achieved an increase in total assets by 10%, to reach 831.6 million dirhams, compared to 757.1 million dirhams at the end of 2022. The return from trading commissions and advisory fees increased by 44%, to record 33.9 million dirhams, compared to 23.5 million dirhams in the same period last year, while other sources of income, including financing and margin trading revenues, contributed to an increase of 52% in the return from margin financing, reaching 1%. 7.06 million dirhams compared to 11.1 million dirhams in the same period last year, bringing the total revenues to jump by a growth rate of 42% and record 58.8 million compared to 41.4 million dirhams in the first half of 2023, in addition to BHM Capital’s acquisition of 3254 new investor accounts during the first half of this year, which reflects an increase of 103% over the number of accounts registered in the same period last year, which numbered 1600 accounts.
Abdulhadi Al-Saadi, CEO of BHM Capital for Financial Services, commented: “We are proud of achieving this positive increase in the company’s net profits, and these results in the first half of this year reflect the strong performance in all our services and the great growth opportunities that establish the company’s leading position and excellence in quality. promising opportunities that we will implement to take advantage of the full potential of our strategy.
Abdul Hadi Al-Saadi added: “BHM Capital achieved many achievements during the first half of this year, including the company obtaining the first license to practice crowdfunding platform operator activity from the Emirates Securities and Commodities Authority, which allows the company to provide crowdfunding platform operator service through an electronic platform, to finance entrepreneurs and small and medium enterprises.”
