Dubai, United Arab Emirates, 24th October 2023:
BHM Capital, a leading financial institution in the United Arab Emirates capital markets, has achieved a significant growth in its profits during the first nine months of 2023, recording a growth of 145% compared to the same period in 2022, reaching approximately AED 27 million, compared to AED 11 million in 2022. This reflects the success of the company’s strategies, ambitious goals, continuous commitment to diversify its revenues, develop its services and its efforts to expand its partnerships inside and outside the UAE.
The company’s total assets increased by approximately 18% by the end of the first nine months of 2023, reaching AED 889.8 million, compared to approximately AED 757.2 million in the end of the previous year. The revenue from trading commissions and consultancy fees reached 61%, totaling approximately AED 57.48 million at the end of September 2023, compared to AED 35.74 million in the same period of the previous year. Additionally, the margin financing revenue witnessed a growth rate of 81%, recording AED 29.01 million in the first nine months of the current year, compared to approximately AED 16 million in the same period of 2022.
Due to these achievements, the company’s total income at the end of the first nine months of the current year jumped by 63%, surpassing AED 96.21 million, compared to approximately AED 59.07 million in the same period of the previous year.
Abdel Hadi Al Sa’di, the CEO of BHM Capital, stated: “We are pleased with these results, which reflect the company’s strong performance this year. During the first nine months, the company managed to increase its profits by 145%, indicating a positive sign for the effective investment strategy adopted by the company. It has started witnessing the results of various developmental services implemented in the past period, as well as partnerships and acquisitions that enhanced operational growth, attracted broader segments of investors and clients, and led to growth across different departments and services.”
Al Sa’di highlighted that the company aims to actively contribute to driving the economic growth in the UAE, enabling investors to access the best opportunities in local, regional, and global financial markets. This is accomplished by employing the best technological developments and innovations, ensuring the safety and speed of applications for the benefit of customers, thus maintaining BHM Capital’s position as one of the most leading financial and investment service providers in the regional financial markets.
About BHM Capital Financial Services:
BHM Capital is a leading private joint stock company listed in the Dubai Financial Market (DFM) 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