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“Dubai Financial Market Reports Remarkable 109% Increase in Nine-Month Net Profit”

Dubai Financial Market (DFM) has announced a remarkable 109% increase in its net profit, reaching Dh186.2 million for the period ending on September 30, 2023, compared to Dh89 million during the same period in 2022.

Thriving Financial Landscape

DFM’s exceptional performance is driven by increased trade activity, a surge in trade value, and a growing number of new investors, cementing Dubai’s pivotal role in the global financial sector.

Robust Financial Results: “Dubai Financial Market 

In the first nine months of 2023, DFM’s total consolidated revenue surged by 48% to Dh351.8 million, up from Dh237.8 million in the corresponding period of 2022. This revenue includes Dh214.2 million in operating income and Dh137.6 million in investment returns and other income. During this period, total expenses increased to Dh165.6 million, compared to Dh148.8 million in the same period in 2022.

Increased Trade Activity

Notably, the total number of trades increased by 37%, reaching 1.43 million trades during the first nine months of 2023, indicating a significant uptick in trading activity compared to the previous year. Total trading value rose by 13% to Dh78 billion. The DFM General Index also experienced a 25% increase, closing at 4,136.58.

Sustained Investor Confidence

DFM attracted 35,357 new investors during the first nine months of 2023, with 72% hailing from foreign markets, representing over 200 nationalities. Institutional investors contributed 56% of the trading value, with net purchases totaling Dh1.54 billion.

Diverse Sectoral Representation

DFM’s market capitalization increased from Dh576 billion in 9M 2022 to Dh697 billion in 9M 2023, with sector distribution as follows: Financials at 41%, Utilities at 23%, Real Estate at 17%, Industrials at 14%, and Communication Services at 3%. Other sectors, including Consumer Staples, make up the remainder.

Leadership Perspectives

Helal Saeed Al Marri, Chairman of DFM, emphasized the commitment to diversification and forward-thinking initiatives.

Hamed Ali, CEO of DFM and Nasdaq Dubai, underlined the market’s resilience and capability to drive growth and innovation in the global financial landscape. Initiatives such as the IPO Accelerator Programme and the onboarding of digital brokers are part of DFM’s digital transformation efforts in 2023.

Global Expansion

DFM’s increased foreign investor base is attributed to the success of international roadshows, fostering global partnerships and enhancing international presence.

DFM’s IPO Accelerator Programme, introduced this year, provides substantial growth opportunities, further strengthening DFM’s commitment to innovation.

The platform is set to expand its reach with an upcoming roadshow in New York next month.

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