Dukascopy Bank Sees 2022 Net Profit Soar 205% YoY to CHF 6.4M

Dukascopy Bank SA, Geneva-based retail FX broker, has generated CHF 6.4 million net profit in the full year of 2022, a significant increase of 205% compared to 2021’s CHF 2.1 million. Revenue for the year came in at CHF 26.8 million, 21.8% higher over the prior year.

For the second half of 2022, revenue declined 14% from CHF 14.4 million in the first half of 2022​ to CHF 12.4 million, with net profit down 27% to CHF 2.8 million.

Annual profit reached CHF 6.7 million, compared to that of 2021 at CHF 2.3 million. Total operating income was CHF 27.4 million, down from the previous year’s CHF 22.7 million. Total operating expenses decreased slightly to CHF 19.6 million. Net interest income surged 200% in 2022, due to rising interest rates across all major currencies. Cost/income ratio fell from 86.8% to 71.3%.

Besides, the bank ended the year with CHF 196.3 million total assets, compared to 2021-end of CHF 184.5 million. Total client deposits increased from 2021's CHF 125.9 million to CHF 131.3 million.