WIKIFX REPORT: XTB sees 71% rise in Q4 net profits

The Polish CFDs and retail FX broker, XTB, has released its preliminary financial results for the fourth quarter of 2021 and the full year.

The operating income for the three months from October to December increased 31.2% YoY to PLN 183.6 million. The total operating expense also went up for the period and net profit came at PLN 68.9 million. This represented a 71.4% YoY rise. EBIT also went up 47.1% YoY to PLN 82.9 million.

The figures for the full year were not as positive compared to the records achieved in 2020. The operating income stood at PLN 625.6 million, 21.6% lower than the previous year. Consequently, net profit was PLN 238.3 million and 40.7% lower than 2020.

The broker registered 42,760 new clients in Q4, 11.3% more than the same period the previous year. The active clients on the platform came at 127,174 in the Q4, 75.8% higher than the numbers of Q4 2020.

The new clients for the year in turn were 189,187, making a 68.9% jump compared to 2020. Active clients reached 190,452 in 2021, with a 77.5% increase compared to the previous year.

The CFD trading volume for Q4 and the full year also rose by 34 % and 29.3%, respectively.

During the past year, the broker has also been expanding its footprint in foreign markets likes the Middle East and Africa. The company recently launched XTB MENA subsidiary and also secured an FSCA license in South Africa.