Dubai’s DFM adds 20,552 new investor accounts in first seven months of 2022

Dubai Financial Market (DFM) has revealed that brokerage companies in DFM added 20,552 new investor accounts in the first seven months of 2022.

According to the state news agency, WAM, the number of new accounts in the DFM grew significantly by over 287 percent during the first seven months of this year, compared to 5,306 new accounts in the same period in 2021.

The market saw significant momentum since the listing of 10 governmental and semi-governmental companies, including the Dubai Electricity and Water Company (DEWA), TECOM Group, and Union Coop.

According to related data, companies added 2,349 new accounts in July, 2,850 in June, 2,468 in May, 4,258 in April; 4,401 in March, 3,231 in February and 995 in January.

BHM Capital Financial Services acquired the largest share of new investor accounts during this period, totalling 3,471; followed by Abu Dhabi Islamic Bank Securities with 2,855; then Emirates NBD Securities with 2,731; ADCB Securities with 1,369 accounts; International Securities with 1,192 accounts; and EFG Hermes with 1,081 accounts.

Dubai Financial Market’s 27 brokerage firms executed over 1.41 million deals during the first seven months of this year, trading 40 billion shares valued at Dhs98.25bn.

in recent news, DFM announced its consolidated financial results for the first half of the year ended June 30 2022, posting a 63 per cent increase in its net profit to Dhs63.4m compared to Dhs38.8m during the corresponding period of 2021.

The net profit of the second quarter of 2022 increased by 134 per cent to Dhs35.9m compared to Q2 2021’s level of Dhs15.3m.

The company’s total consolidated revenue reached Dhs63.8m in H1-2022 compared to Dhs136.6m during H1-2021. The revenue amounted to Dhs121.4m of operating income and Dhs42.4m of investment income and others.

Read: Dubai Financial Market posts net profit of Dhs63.4m for H1 2022