Switzerland-headquartered Dukascopy Bank has released an interim financial update disclosing the state of its business in the first four months of 2022. The company brought in CHF 10.3 million ($10.5 million) as revenue in the period, which is more than 30 percent higher than the same period of the previous year.
The Swiss brokerage operator has significantly improved its performance in the last four months as the latest reported revenue came in marginally lower than CHF 10.6 million it generated in the previous six months.
Additonally, Dukascopy disclosed that it generated more than CHF 4.2 million in operating profits between January and April, which is 133 percent higher than the first four months of 2021. It ended the period with a net profit of over CHF 3.5 million, again a yearly increase of 150 percent.
In its last annual financials, Dukascopy revealed that it had generated CHF 2 million in profits in the first three months of 2022. It puts the net profit for April alone at CHF 1.5 million.
Massive Surge after a Dull Year
The latest figures came days after the Swiss firm posted dull annual financials for 2021. The net profit of the company for the year came in at CHF 2.1 million, which is down from CHF 10.4 million in 2020. It was a yearly decline of almost 80 percent.
However, all trading platforms, including Dukascopy, benefited astronomically from the massive surge of retail trading activities during the early pandemic months. Interestingly, Dukascopy’s 2021 profits fell in line with the pre-pandemic levels; it generated CHF 2.2 million in 2019.
Meanwhile, the client deposits on the trading platform improved significantly last year. It closed the year with CHF 125.9 million in client assets, which was significantly higher than CHF 105.3 in 2020 and CHF 102.1 million in 2019. Furthermore, this figure increased by 1.8 percent in the first four months of 2022.
