Dukascopy Bank, a Swiss financial trading services provider, recently published its financial metrics for 2021. The online trading platform reported a decrease in its net profit as the figure dropped to CHF 2.1 million.
Operating expenses in 2021 dipped by nearly 6.5% compared to the previous year. Despite a challenging environment regarding net profit and revenues, Dukascopy posted a sharp increase in client deposits as the figure climbed 19.6% in 2021 compared to 2020.
According to the details shared by Dukascopy, a solid jump in mobile multi-currency accounts (MCA) was observed during 2021. Dukascopy also termed crypto as one of the main 'strategic growth areas'.
“Dukascopy Bank continued its crypto expansion by significantly improving its overnight rates for crypto instruments together with launching trading for 10 new cryptocurrency pairs. Dukascopy Bank continuously expands its list of trading instruments to meet customer requests. In addition, our Bank was able to increase the range of new products offered to its clients including new CFDs on shares and CFDs on cryptos. Starting from less than 50 FX currency pairs, the Bank is now offering trading on over 750 instruments,” Veronika and Andrey Duka, the Co-Chief Executive Officers at Dukascopy, commented.
Russia-Ukraine Conflict
In the recent announcement, Dukascopy noted that the Group may face the impact of the conflict between Russia and Ukraine.
“The Russian-Ukrainian conflict which started in February 2022 may have an impact on the Bank’s activities. It is, however, too early to quantify their effects on the Bank’s financials. The result for the first three months of 2022 is a profit of 2.0 million,” the company added.
Furthermore, Dukascopy released the financial numbers regarding the performance of its subsidiaries. Dukascopy Japan’s net profit reached CHF 102,300 in 2021. Dukascopy Europe generated a net profit of CHF 46,000 during the last year.
