Dubai, UAE – Dubai Financial Market (DFM) has reported a 30 percent increase in net profit to $9.7 million in the first quarter of 2023, up from $7.5 million during the same period in 2022.
DFM’s total consolidated revenue rose 13 percent to $24.2 million in Q1 2023, compared to $21.4 million in Q1 2022. Operating income amounted to $12.9 million, while investment returns and other income reached $11.3 million. Meanwhile, total expenses rose to $14.5 million, up from $13.9 million in Q1 2022.
DFM’s trading value for the quarter amounted to $5.2 billion, down from $6.2 billion in the same period in 2022. The DFM General Index increased by 2.1 percent, while market capitalization rose by 2.4 percent to $162 billion at the end of March 2023. Foreign investors maintained a strong presence, accounting for 56 percent of trading value and making net purchases of $173.4 million. Institutional investors had a 68 percent share of trading value, with net purchases of $1.8 million.
During the quarter, DFM attracted 14,635 new investors, with 78 percent of them being foreign investors. This resulted in a total investor base of 1,185,291, representing 215 nationalities. DFM’s strong performance was attributed to its unwavering commitment to its investors, stakeholders, and customers.
DFM’s Chairman, Helal Saeed Al Marri, said the exceptional performance reinforces its position as a leading financial market in the region. He added that DFM is well-positioned to achieve its strategic objectives and reinforce its role as a global financial hub.
