Dukascopy Bank SA noted a net profit of CHF 1.3 million last year amidst market challenges.
It marks a significant fall from CHF 6.4 million in 2022 and is lower than the CHF 2.1 million profit from two years prior.
Dukascopy’s Profits Fall Amidst Rising Costs
Tuesday’s report showed the cost-to-income ratio jumping to 89.2% from 71.3% the year before.
The ratio surged, with operating income dropping over CHF 5 million to CHF 22.1 million.
Early 2023 predictions hinted at a challenging year after a 33% decrease in trading income to CHF 9.6 million, especially following 2022’s near-record profit.
XTB is expanding globally, announcing the purchase of Indonesian broker Eagle Capital Futures in late March to open doors to Asia.
