PRESS RELEASE : OCT 30, 2023 08:55:03 PM
Dubai Financial Market Reports Strong Performance in First Nine Months of 2023
Dubai, October 30, 2023 – The Dubai Financial Market (DFM) has released its consolidated financial results for the period ending September 30, 2023, showcasing robust performance and substantial growth across various metrics. Key highlights include a significant increase in net profit, a surge in trading activity, and a notable rise in investor confidence.
Financial Performance Highlights:
- Net profit surged by 109% to AED 186.2 million, compared to AED 89 million in the same period in 2022.
- Total consolidated revenue increased by 48% to AED 351.8 million, driven by a rise in operating income and investment returns.
- Total expenses reached AED 165.6 million, reflecting the company’s continued investment in growth initiatives and operational excellence.
Trading Activity and Market Performance:
- Trading activity witnessed a notable increase, with the total number of trades rising by 37% to 1.43 million.
- Total trading value reached AED 78 billion, recording a 13% increase over the same period last year.
- The DFM General Index rose by 25% during the period, closing at 4,136.58, reflecting the market’s positive momentum.
Investor Confidence and Market Capitalization:
- DFM welcomed 35,357 new investors in the first nine months of 2023, with foreign investors accounting for 72% of the total.
- Institutional investors represented 56% of the trading value, demonstrating sustained confidence in DFM’s market ecosystem.
- Market capitalization increased to AED 697 billion, highlighting the market’s growth trajectory and sectoral diversity.
Leadership Insights:
- H.E Helal Saeed Al Marri, Chairman of DFM, emphasized the company’s commitment to diversification and forward-thinking initiatives.
- Hamed Ali, CEO of DFM and Nasdaq Dubai, highlighted the market’s resilience and strength, attributing the success to innovation and expansion efforts.
- Ali also announced upcoming international roadshows, including one in New York, aimed at further enhancing DFM’s global presence and partnerships.
Innovative Programs and Digital Transformation:
- DFM’s IPO Accelerator Programme, supported by esteemed advisors, has provided significant growth opportunities to participating private companies.
- The company’s ongoing digital transformation efforts have led to the successful onboarding of digital brokers, enhancing the trading experience for investors.
The first nine months of 2023 have been marked by robust growth and innovation at DFM, reinforcing its position as a leading player in the global financial landscape. With a focus on enhancing customer experience, driving market growth, and fostering international partnerships, DFM remains committed to delivering value to investors and stakeholders alike.
