202% growth rate due to increasing investor confidence.
BHM Capital, a leading financial services company in the UAE, has announced AED5.1 million net profit for the first half of 2021, a 202% growth rate compared to the same period last year.
While the company maintained its total assets at the level of the end of last year, estimated at AED477 million at the end of the current period, customer deposits jumped 33.6% valued at AED197.1 million by the end of June, compared to AED147.4 million it received in the first half of last year.
In addition, BHM Capital achieved an increase of 58.6% in net trading commission income reaching AED15.8 million as of the current review period, compared to AED9.9 million in the same period last year, boosted in part by the opening of 625 new accounts.
Abdel Hadi Al Sa’di, Chief Executive Officer of BHM Capital, says investors have become more optimistic about the global economy regaining its momentum that was lost at the onset of the pandemic. “Investor confidence has increased and has resulted in a more robust activity in the financial markets, which we leveraged to achieve the growth we did in the first half of the year,” Al Sa’di explained.
Al Sa’di pointed out that the growth in profits was achieved as a result of the increase in trading commission income because of the growth in trading volumes in the financial markets as well as the outstanding performance of the company’s innovative services and new products.
He said: “We are pleased with the strong results and expect that we can sustain the momentum going into the second half of this year, as we see a rise in trading activity in the financial markets in the region in general and in Dubai in particular, as we see the emirate hosting the World Expo in October.”
BHM Capital (formerly BH Mubasher) is a leading financial services company since 2006, providing full-fledged investment services and products in the financial markets in the United Arab Emirates and the region.