Swiss financial services provider Dukascopy has released its financial results for the first half of 2021. The company impressed in its H1 2021 profits, hitting CHF 1.3 million ($1.4 million) compared to the CHF 2.1 million recorded in the first half of 2021. But despite the profits, its net income was below the net income it recorded in H1 2021.
An increase in client activity
Although the provider’s activities fell slightly, it still recorded a surge in client deposits as the market becomes more favorable. Client deposits on the platform reached CHF 111.9 million in H1, which is higher than the CHF 96.1 million it recorded in the same period last year.
Another notable improvement in the company’s performance is in its balance sheet, which surged by 9.85% in the period.
The report noted that Dukascopy had a total liquid asset of CHF 33,861,300. It’s a significant increase compared to the CHF 23,260,143 million it had as of December 31, 2021.
Dukascopy records a massive decline in operating expenses
Additionally, the company saw a slight increase in its financial investments, surging from CHF 45,645,345 to CHF 45,796,108 in the current balance sheet.
However, the liabilities also increased from CHF9,204,619 to CHF 10,585,724 as of June 30, 2021, which is a reflection of the increased investments the firm has undertaken.
Its operating expenses saw a slight decline from CHF 3,801,646 on December 31, 2021, to CHF 3,365,427 on June 30, 2021.
In April, Dukascopy Bank, in its published financial report ending December 31, 2021, had a record level of income and profits. It has a yearly increase of 43.2% in its operating income as it touched CHF 40.1 million. The financial service provider has continued to grow its operations and hopes to do better in the next financial result ending December 31, 2021.