MultiBank Group has announced a record-breaking third quarter in 2023. With a remarkable revenue of US $112,365,577 and an astonishing trading turnover of US $3 trillion during this period, MultiBank Group has achieved its most successful quarter in the company’s history.
Record-Breaking Year: MultiBank's Financial Performance in 2022
MultiBank Group has also disclosed its audited full-year 2022 financial results, which reveal remarkable achievements. The annual financial statement unveils a staggering surge in revenue of 48%, rising from US $188,636,721 in 2021 to an impressive US $279,523,140 in 2022.
Furthermore, MultiBank Group reports a substantial increase of 35% in net income, escalating from US $132,937,545 in 2021 to a remarkable US $180,013,709 in 2022. It marks another extraordinary year for the company.
The Founder and Chairman of MultiBank Group, Naser Taher, expressed his satisfaction with these results: “Our financial results broke new records once again this year, highlighting solid growth, with achievements that are in line with our long-term strategy.”
“In 2023, we launched our latest cutting-edge technology, the MultiBank.io multi-asset platform and financial ecosystem, which combines traditional finance with the latest advanced technologies including blockchain, AI, and machine learning – empowering millions of market participants worldwide and shaping the future of finance.”
“In addition, we also recently obtained a license for our new European subsidiary, MEX Europe Ltd, from the Cyprus Securities and Exchange Commission (CySEC). This European license reinforces our unwavering commitment to regulations, compliance, and fund security, joining our esteemed group of financial institutions which maintain an unblemished record with over 14 regulators worldwide.”
Global Regulatory Reach: MultiBank's Jurisdictions
Finance Magnates reported in July that MultiBank Group had obtained a license from CySEC for its derivatives brokerage expansion in Europe. This license was granted to its Cypriot subsidiary, MEX Europe. MultiBank is regulated in various jurisdictions, including Germany, Australia, New Zealand, the UAE, and Singapore.
Furthermore, the company has ambitious plans for 2023. The plans include going public and launching projects such as an inter-bank ECN trading platform, a regulated digital assets exchange in Australia, an enhanced social trading application, and a global digital payments processor designed to bridge traditional and emerging forms of finance. MultiBank relocated its headquarters from Hong Kong to Dubai in 2022 as part of its business consolidation efforts in the UAE.
