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XTB notes 69% increase in profit in the fourth quarter

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XTB, a Poland-based retail brokerage, recently released its Q4 report, noting a 69% increase in profits. The company also reported a 31.2% year-over-year increase in operating income, with other parameters showing tremendous growth. The growth ended with the Polish broker amassing PLN 183.6 million and attracting numerous traders and investors. However, given the complexity of the financial market, users rely on detailed assessments for the companies. XTB has become more and more popular lately. XTB is a reputable, multi-asset and deposit-free broker that has assisted millions of traders around the world. Founded twenty years ago, this broker has made history by helping many traders with its wide selection of conventional and contemporary trading tools, educational resources, and more. Traders should check out this unbiased and comprehensive online XTB broker review to learn more about the platform. In addition to the quarterly revenue growth, the broker also achieved a net profit of PLN 238.3 million. The number accounted for a 69% growth with an annualized 47.1% growth in EBIT, to PLN 83 million. However, things did not go well for the broker as the overall annual figure fell compared to 2020. XTB generated more than PLN 625.6 million in operating income and PLN 238.3 million in net profit. The amounts are converted into 21.6% and a 40.7% discount for the broker. On the other hand, XTB improved its customer acquisition, both in quarterly and annual figures. In the last three months of 2021, the broker helped onboard 42,760 clients, which is 11.3% higher than in 2021. In terms of an annual statement, the amount increased by 69% to 189,187. XTB is also expanding its presence in foreign markets, especially in Africa and the Middle East. Moreover, the broker launched its MENA subsidiary in October 2021 while waiting to start its operations in South Africa. Given the pace at which XTB is expanding its reach, South African users can expect its services soon.
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