PRESSR: BHM Capital has increased its profits, pre-tax by 24% in the first half of 2024

First published: 29-Jul-2024 12:50:27

United Arab Emirates, Dubai: BHM Capital Financial Services, the leading financial institution in the capital markets of the United Arab Emirates, announced a 24% increase in its net pre-tax profit, reaching AED 18.4 million. After accounting for taxes, the net profit amounted to AED 16.8 million, reflecting a 14% increase compared to AED 14.8 million in the same period last year.

Diverse income streams propelled a substantial rise in returns vs. the same period of 2023. Total income surged by 30%, climbing to AED 76.6 million compared to AED 58.9 million in the first half of 2023. Additionally, the company's total assets saw an increase of 1%.

It also achieved an extraordinary surge in the total number of new accounts in the first half of 2024, with 19,192 new accounts compared to 3,870 new accounts in the same period last year, reflecting a nearly fourfold increase. This phenomenal growth has significantly boosted market trading activity and enhanced the attractiveness of shares in listed companies by drawing in a larger pool of investors.

Abdul Hadi Al Sa’di, CEO of BHM Capital Financial Services, said: "This significant increase in profits reflects the success of the company's promising strategy, its continued efforts in diversifying revenue sources, and its position as a leading provider in delivering the best services and sophisticated financial solutions to customers."

Al Sa’di expressed pride at this positive increase in the company's net profit and emphasizing that these results are in the first half of this year, Reflects the strong performance and significant growth opportunities that establish the company's leading position and quality s commitment to ensuring that best professional practices are followed while providing the best working environment and adopting and implementing an effective investment strategy."

"Our services are compatible with global practices and systems in this sector, which are of high quality and reliable, and there are still many promising plans that we will be keen to implement to take advantage of the full potential of our strategy., " Al Sa’di added.

BHM Capital is a liquidity provider to many companies listed on the UAE financial markets, contributing through this step to enhancing companies' standing and maintaining the stability of price movements of their traded shares.

About BHM Capital Financial Services:

BHM Capital is a leading private joint stock company listed in the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) and regulated by the UAE Securities and Commodities Authority providing services to individual and corporate investors. Since its establishment, it has been one of the top-ranked firms in the country’s financial markets and a pioneer in financial technology, making it a regional leader in providing essential tools for corporate and individual clients.

For more information, please visit: www.bhmuae.ae

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