BHM Capital increases its client base by adding 11,000 new accounts

BHM Capital increases its client base by adding 11,000 new accounts



United Arab Emirates, Dubai: BHM Capital, a leading financial institution in the capital markets of the United Arab Emirates, listed on the Dubai Financial Market, has announced an increase in its total trading value by 29%, reaching 73.6 billion dirhams during the year 2023, compared to 56.9 billion dirhams in 2022. Additionally, the growth rate of its clients’ base reached 61%, opening 11,100 new accounts in both Dubai Financial Market and Abu Dhabi Securities Exchange during the year, following the development of the smart on-boarding system and its integration with Dubai Financial Market’s applications in the country. Supported by the company's strong performance, total revenues increased by 60%, reaching 136.7 million dirhams in 2023 compared to 85.3 million dirhams in 2022. As a result, the company's net profits for the period ending on December 31, 2023, jumped by 101% to reach 31.5 million dirhams, compared to 15.7 million dirhams recorded in 2022. The net revenues included a significant increase of 304% in listing advisory service, 160% in company's general services, and 110% in margin trading, along with a 33% rise in commission income. The company's total assets also rose by 61%, reaching AED 1.22 billion in 2023, compared to total