The Dubai Financial Market Company achieved a net profit of 27.5 million dirhams during the first quarter of 2022, an increase of 17% compared to the profits of the same period in 2021, which amounted to 23.4 million dirhams, according to its consolidated financial results for the first quarter of the current year ending on March 31, 2022.
The company’s total consolidated revenues increased by 7% to 78.6 million dirhams during the first quarter of 2022, compared to revenues of 73.4 million dirhams during the first quarter of 2021.
Revenues were distributed at 55.9 million dirhams from operations and 22.7 million dirhams from investments and others. Operating expenses amounted to 51.1 million dirhams, compared to 50 million dirhams.
Hilal Al-Marri, Chairman of the Board of Directors of the Dubai Financial Market Company, said: “Trading activities in the Dubai Financial Market gained more momentum during the first quarter of 2022, consolidating its remarkable positive trajectory in the previous quarter, which followed the announcement of an ambitious strategy to develop financial markets in Dubai and consolidate its position. The emirate as a global financial center in line with the vision of the rational leadership.”
He added: “Accordingly, the trading value increased by 48% to reach 22.8 billion dirhams during the first quarter, compared to 15.4 billion dirhams in the same quarter of last year, and the general index recorded an increase of 10.3%, and the market value rose to 437.4 billion dirhams, an increase of 6.4%. compared to its level at the end of 2021. Foreign investors maintained their remarkable presence in the market and acquired 45.8% of its trading value during the first quarter, with a net investment of 2.1 billion dirhams as a purchase proceeds, and their ownership percentage amounted to 23.2% of the total market value at the end of March 2022. In the same context. The share of investment institutions in the total trading value amounted to 51.6%, with a net investment of 651 million dirhams as a purchase proceeds.
Al-Marri explained that «the market attracted 51,404 new investors during the first quarter of this year, foreign investors represented 73.4% of them, bringing the total number of investors registered in the market by the end of March 2022 to 903,077 investors belonging to 209 nationalities, which reflects its continued attractiveness to investors and their increasing interest. The opportunity it provides, whether through trading or participating in public offerings.”
Al-Marri concluded by saying: “The market moved forward during the first quarter of 2022 in implementing its strategic plans aimed at consolidating its position as a main gateway for investment, as it is currently considered among the most regional markets that provide a variety of financial products, including stocks, futures contracts, sukuk, bonds and real estate investment funds. Exchange Traded Funds, etc. The market is moving strongly towards expanding the scope of these opportunities and attracting leading companies from various economic sectors to implement public offerings and listings in the market, as well as adding more products in the next stage. In addition, our efforts in the field of digital transformation have made many strides by expanding in services to facilitate investors’ access to the market, issuing investor numbers, or participating in public offerings, whether through the electronic channels of the Dubai Financial Market or those of business partners from brokerage companies and financial institutions. banking and others.
