MultiBank Group Sees 49% YOY Gross Profit Jump in Q1-Q3 of 2020

MultiBank Group​, an online financial derivatives providers worldwide, has published its  financials for Q1-Q3 results. The gross profit stood at over USD 94 million compared to USD 63 million, a year-on-year rise of 8.7 percent.

Other highlights from the financial report shows that MultiBank Group’s turnover is over USD 2 trillion for Q1-Q3 in 2020, which already exceeds the 2019 annual turnover of USD 1.9 trillion, setting them up for an overall financial record-breaking year. 

MultiBank Group has continued to see growth across its key metrics year on year which has been underpinned by exceptional performance across its key areas of strategic focus and the dexterity of its technology infrastructure.

Geographically, the Group continues to expand and cater to key markets. Greater China was the largest source of revenue in FY 2019 with a 36% share of total revenue. However, since the relocation of its headquarters to Hong Kong and the United Arab Emirates, MultiBank’s regional sources of revenue are increasingly diversified throughout the rest of Asia, the Middle East, and Latin America.

Naser Taher, Chairman of MultiBank Group, said:“It has been an incredible year. We’re extremely motivated by the results thus far and look forward to finishing 2020 in an exceptionally strong position. MultiBank Group continues to deliver on its vision of providing our clients with award-winning technologies and services, being a fully automated exchange platform and global brokerage, and providing highly developed asset management solutions.”