BHM Capital Reports 6% Profit Growth Amid Market Challenges
BHM Capital Financial Services has announced a 6% increase in net profits for the first nine months of 2024, showcasing resilience amidst global challenges.
Summary
BHM Capital Financial Services achieved a 6% profit growth in the first nine months of 2024, with total assets rising by 17.4%. The company opened 22,295 new accounts, reflecting its strategic success.
BHM Capital Financial Services PSC, a prominent player in the UAE's financial landscape, has once again demonstrated its robust performance by reporting a 6% increase in net profits for the first nine months of 2024. This achievement is particularly notable given the global economic uncertainties and geopolitical challenges that have impacted many sectors.
The company's net profit reached AED 24.81 million, up from AED 23.47 million in the same period last year. This growth is complemented by a significant rise in total assets, which increased by 17.4% to AED 1.4 billion. Such a substantial asset growth underscores the company's strategic focus on expanding its market presence and enhancing its service offerings.
One of the standout figures from BHM Capital's latest financial results is the remarkable increase in total income, which surged by 22.57%, reaching AED 117.9 million. This increase is a testament to the company's successful revenue diversification strategy and its commitment to adopting cutting-edge technologies and innovative financial solutions.
Moreover, the number of new accounts opened in the first nine months of 2024 saw an unprecedented growth of 334.52%, with a total of 22,295 accounts. This surge in new accounts highlights the trust and confidence that clients place in BHM Capital's services, further solidifying its position as a leader in the financial markets.
Abdel Hadi Al Sa’di, CEO of BHM Capital, expressed gratitude towards clients and partners for their continued support, attributing the company's success to the strength and resilience of the UAE economy. He emphasized the importance of strategic partnerships and collaboration with leading financial markets and institutions, both locally and internationally.
Despite the challenging global economic environment, BHM Capital's strategic focus on revenue diversification and investment in innovative solutions has enabled it to achieve these positive results. The company's efforts were recognized earlier this year when it was awarded the "Best Equity Broker in Dubai" at the 2024 Annual Conference of the Arab Federation of Capital Markets.
Looking ahead, investors may consider holding their positions in BHM Capital, given its demonstrated resilience and strategic growth. The company's continued focus on innovation and market expansion positions it well for future growth, making it a potentially attractive option for those seeking stability and long-term value in the financial sector.
Source
Summary
BHM Capital, a leading financial institution in the UAE capital markets, reported a 6% increase in net profits for the first nine months of 2024, totaling AED 24.81 million compared to AED 23.47 million in the same period of 2023. The company's total assets grew by 17.4% to AED 1.4 billion, and total income increased by 22.57% to AED 117.9 million. The number of new client accounts rose by 334.52%, reaching 22,295. CEO Abdel Hadi Al Sa’di attributed these results to the UAE's supportive investment environment and the company's strategy of revenue diversification and investment in innovative solutions. Despite global challenges, BHM Capital's strategy has been successful. The company was also recognized as the "Best Equity Broker in Dubai" at the 2024 Annual Conference of the Arab Federation of Capital Markets.
