Exclusive: Dukascopy sees 37% increase in Revenues to CHF 14.4M in 1H-2022
FNG Exclusive… FNG has learned from filings made in Switzerland that Geneva based Retail FX and CFDs brokerage group Dukascopy Bank SA showed a marked increase in activity, revenues and profitability during the first half of 2022.
Revenues in 1H-2022 came in at CHF 14.4 million (USD $15.1 million) at Dukascopy, up by 37% over the second half of 2021’s CHF 10.6 million, and also much-improved over the first half of 2021’s CHF 11.4 million.
Net profit soared by 345% to CHF 3.9 million in 1H-2022, more than the CHF 2.3 million in profit Dukascopy showed for all of 2021. Dukascopy’s bottom line was helped by the company’s ability to keep operating revenues basically flat with 2021 levels, even as activity increased.
Customer deposits at as 30/06/2022 were up slightly over 2021 year-end levels, CHF 123.3 million versus CHF 121.2 million.
Dukascopy – which normally reports its financial in Switzerland semi-annually – took the fairly interesting (and unusual) step of releasing summary financial statements covering the first four months of 2022, through to April 30, 2022, back in early May. That May release gave us a good indication that 1H-2022 was going to be strong at Dukascopy, and as per above the company did not disappoint.
Dukascopy is the second largest Retail FX firm based in Switzerland after Swissquote (SWX:SQN), which will be reporting its 1H-2022 results in a couple of weeks.
The Bank and securities houses of Dukascopy Group are regulated in Switzerland, Latvia and Japan. The Latvian entity, Dukascopy Europe has a license to operate in the European Union. The Group offers multi-products (FX, bullion, CFD, binary options) online and mobile trading platforms together with an increasing range of other financial services including current accounts, guarantees, classic banking payments, innovative instant payments via smartphones, payment cards, and its own crypto currency, to individuals and institutions. The SWFX trading platforms operated by Dukascopy Bank SA are considered bilaterally organised trading facilities.
Dukascopy is controlled and run by husband-and-wife team Veronika and Andrey Duka, who act as co-Chief Executive Officers. The company’s 1H-2022 balance sheet and income statement follow: