Dubai Financial Market posts 63% growth in net profit of H1

The Dubai Financial Market (DFM) posted an increase in net profits by 63 percent to 63.4 million dirhams compared to 38.8 million dirhams during the corresponding period of 2021.

DFM announced its consolidated financial results for the first half of the year ending on 30th June 2022.

According to figures published by the Emirates News Agency (WAM), the Company’s total consolidated revenue reached 163.8 million dirhams in H1-2022 compared to 136.6 million dirhams during H1-2021.

The revenue comprised 121.4 million dirhams of operating income and 42.4 million dirhams of investment income & others. 

DFM’s expenses amounted to 100.4 million dirhams compared to 97.8 million dirhams recorded during H1-2021.

During the second quarter of 2022, the Company’s revenue reached 85.2 million dirhams compared to 63.2 million dirhams in the second quarter of 2021, while expenses amounted to 49.3 million dirhams compared to 47.9 million dirhams during Q2-2021. 

Commenting on the announcement, Helal Al Marri, DFM Chairman, said, “The DFM has witnessed a positive performance driven by the increasing interest from various market participants and the deep confidence in its prospects in light of the accelerating steps to implement Dubai’s financial markets development strategy.” 

During the first half, the DFM welcomed the listing of (DEWA), the largest initial public offering in the UAE financial markets history.

Additionally, the product diversification strategy gained further momentum by launching trading of Oman Crude Oil Futures as well as new equity futures contracts. 

The total trading value increased by 75 percent during the first half of 2022 to 49.4 billion dirhams from 28.2 billion dirhams during the same period of the year 2021. 

Meanwhile, the total market capitalization of listed securities increased 28.2 percent to 527 billion dirhams compared to the end of 2021 level of 411 billion dirhams.

Moreover, DFM has attracted 70,432 new investors during the first half of this year compared to 1,842 investors, up 38 times compared to its level at the end of the corresponding period of last year, bringing the total number of investors to 921,550 investors from 212 countries at the end of June 2021.

International investors accounted for 72 percent of the new investors. Additionally, the DFM has onboarded 426 new institutional investors during the first half, including 303 foreign institutions.