Euroclear Achieves Strong Performance in H1 2022 with 42% Jump in Net Profit

The global financial services provider, Euroclear, reported its financial performance throughout the first half year of 2022. Key metrics indicate strong growth is remained during the period.

Euroclear's net profit increased 42% to EUR 351 million, of which EUR 277 million resulted from the strong underlying business performance. Operating income was up 24% year-on-year to EUR 998 million. Business income was up 7% to EUR 807 million, reflecting the continued strong growth of Euroclear's core business lines as it implements its strategy.

Interest, banking and other income increased by 262% to EUR 191 million as a consequence of rising interest rates and higher cash balances from frozen assets due to the Russian sanctions.   

Operating Expenses increased to EUR 534 million, up 12% compared to H1 2021, as Euroclear continued to invest in its technology and service offering, as well as being impacted by inflation and costs related to managing the Russian sanctions.

An increase of 40% in earnings per share to EUR 111.7 per share, reflected the increase in net profit.

"We delivered a strong performance across the business and saw an increase in interest earnings due to higher interest rates and accumulated cash balances as a consequence of frozen assets due to the Russian sanctions,"said Lieve Mostrey, Chief Executive Officer, Euroclear.