BHM Capital Financial Services records stronger profits in the first half of 2023 to reinforce its position as a leader in the financial services industry, the company posts 63.4 percent increase in net profit to report AED 14.78 million at the end of the first half of the year 2023 versus AED 9 million the same period last year, this remarkable increase reflects the company continuous efforts to diversify its revenue streams, and will further consolidate its position as a leading financial institution in the region.
The leading company also achieved a 10 percent rise in total assets to reach AED 831.6 million at the end of the first half of 2023 compared to AED 757.1 million at the end of 2022, and a 44 percent increase in commission and advisory income to report AED 33.9 million compared to AED 23.5 million same period last year, the income from margin trading jumped 52 percent valued at AED 17.07 million compared to 11.1 million in the first half of last year, total income has therefore grown 42 percent to report AED 58.8 million. In addition, 3254 new investors onboarded BHM Capital in the first half of 2023 which reflects a 103 percent increase compared to 1600 investors who onboarded at the same time last year.
“The achievement of these remarkable positive results in the first half of this year reflects the strong business performance in all the company’s services, and the great growth opportunities that consolidate BHM Capital Financial Services’ leading position in the region, the company is committed to providing the best business environment and implementing the best investment strategy, In addition to the compatibility of its services with the best practices and international regulations in this sector and its high quality and reliability, there are still many promising plans that we are keen to implement to take advantage of the full potential of our strategy”. Said Mr. Abdel Hadi Al Sadi, Chief Executive Officer of BHM Capital Financial Services.
“The company achieved many accomplishments in the first half of this year, such as becoming the first financial institution to obtain Crowdfunding Platform Operator Activity license from the UAE Securities and Commodities Authority (SCA), allowing BHM Capital to offer crowdfunding solution on an electronic platform, to finance entrepreneurs, small and medium sized enterprises”. Al Sadi concluded.
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