ITI Capital Ends 2021 with £3.5 Million Loss, Plans to Wind down Retail Business

ITI Capital, an international investment company with headquarters in London, has published its yearly financials for the year ended 31 December 2021. The broker reported a 43 percent year-over-year drop in its revenue for this year.

According to the figures, the company's revenue for the year came in at £3.32 million, compared to the previous year's £5.83 million. It ended the year with a pre-tax loss of £3.4 million, while this figure was at £2.4 million in the previous year.

After taking the interest income and expenses, ITI's losses climbed to almost £3.5 million, compared to the previous year's £2.1 million.

The company's ongoing business operations and ensuring financial performance have been very challenging throughout 2021 as it has been operating under certain regulatory restrictions arising from its acquisition of a book of business from a distressed UK brokerage company, SVS Securities in 2020. The restrictions included agreeing to not take on any new clients as well as existing clients being unable to take any trading activities with the company.

"Following the SVS acquisition and all the ensuing difficulties that arose from or because of it, the Board felt that the company would be better positioned in the future to focus on developing its business for professional and institutional client services only," the broker said.

"We have commenced the exit for the retail business in June 2022 and we expect to wind down the retail side of the business by 21 December 2022, to ensure the best possible outcome is secured for all clients."