XTB sees net profit drop 12% in H1 2023, new clients jump 66%

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2023/04/XTB-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/04/XTB-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/04/XTB-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/04/XTB-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/04/XTB-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/04/XTB-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/04/XTB-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/04/XTB.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><h2>Active clients</h2>
<p>XTB registered a record 167,000 new clients in H1, seeing a 65.5%YoY surge from the same period the previous year. The Warsaw Stock Exchange-listed company’s active clients also jumped to 274,450 by 44.4%</p>
<p>However, XTB’s CFD profitability per lot, representing the profit on a per-trade basis, experienced a 17.4% YoY decline, reaching PLN 226. This decrease occurred despite the company’s noteworthy 18.5% YoY increase in CFD volume, which expanded to 3.6 million by the end of June.</p>
<p>The company stated:</p>
<blockquote><p>In the first half of 2023, the Group’s revenue decreased by 2,1% y/y, from PLN 836,2 million to PLN 818,9 million. Contributing to this decline was a lower profitability per lot of PLN 48, amounting to PLN 226 (H1 2022: PLN 274). This decrease is mainly the results of lower volatility in the financial and commodity markets in Q2 2023, compensated in part by the constantly increasing number of new clients (increase by 65,5% y/y), combined with their high transactional activity expressed in the number of CFD contracts concluded in lots.</p></blockquote>
<p>Earlier this year, <a href="https://www.leaprate.com/forex/brokers/xtb-announces-withdrawal-of-share-buyback-plan-focusing-on-dividend-distribution/" target="_blank" rel="noopener">XTB</a> reported a <a href="https://www.leaprate.com/forex/brokers/xtb-sees-strong-performance-in-q1-net-revenue-reaches-pln-302-8-million/" target="_blank" rel="noopener">strong performance in Q1</a> with net revenue rising nearly 20% to PLN 302.8 million.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/brokers/xtb-sees-net-profit-drop-12-in-h1-2023-new-clients-jump-66/">XTB sees net profit drop 12% in H1 2023, new clients jump 66%</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>