United Arab Emirates, Dubai, May 15, 2024
BHM Capital, a leading financial institution in the United Arab Emirates capital markets, has achieved a significant growth in its profits during the first quarter of 2024, recording a growth of 22% compared to the same period in 2023, reaching approximately AED 9 million, compared to AED 7 million in 2023. 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 the end of the first quarter of 2024, reaching AED 1.3 billion. The revenue from trading commissions and consultancy fees reached 12%, totaling approximately AED 14.6 million at the end of March 2024, compared to AED 13 million in the same period of the previous year. Additionally, the margin financing revenue witnessed a growth rate of 127%, recording AED 20.1 million in the first quarter of the current year, compared to approximately AED 8.8 million in the same period of 2023. Finally, the Market Making & Liquidity Providing income has grown by 65%, compared to the same period of last year.
Due to these achievements, the company’s total income at the end of the first quarter of the current year jumped by 47%, surpassing AED 37.5 million, compared to approximately AED 25.5 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 quarter, the company managed to increase its profits by 22%, 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.
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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
