BHM Capital Financial Services posts 77% increase in net profit for the first half of 2022
BHM Capital Financial Services records stronger profits in the first half of 2022 to bolster its position as a leader in the financial services industry, the company posts 77% increase in net profit to report AED 9 million at the end of the first half of the year 2022 versus AED 5.1 million the same period last year, this remarkable increase reflects the company continuous efforts to diversify its revenue sources, and will further consolidate its position as a leading provider of advanced financial services and solutions in the region.
The leading company also achieved a 9% rise in total assets to reach AED 636.6 million at the end of the first half of 2022 compared to AED 583.9 million at the end of 2021, and a 48% increase in commission and advisory income to report AED 23.5 million compared to AED 15.8 million same period last year, the income from margin trading jumped 40% valued at AED 11.1 million compared to 7.9 million in the first half of last year, with 210% increase in income from Market Making and Liquidity Providing, net income has therefore grown 55% to report AED 41.4 million. In addition, BHM Capital acquired the largest share of new investor accounts with 3,119 new accounts in the first half of 2022.
“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 Sa’di, Chief Executive Officer of BHM Capital Financial Services.
“The company achieved many accomplishments in the first half of this year, such as the launch of BHM Capital’s (Smart Digital On-boarding System), which enables investors to finalize all steps related to acquiring an Investor Number and open a trading account through an innovative, simplified, and reliable digital onboarding solution. Furthermore, BHM Capital has strengthened its market position by acquiring the Fund Management License from the UAE Securities and Commodities Authority (SCA), allowing the company to establish, manage and promote investment funds and to provide more opportunities to its investors”. Al Sa’di concluded.