Interactive Brokers (UK) Limited recently released its financial results for the year ended 31 December 2021, posting a pre-tax profit of £22 million.
The 43% surge in profit before taxation is attributed to a sharp jump in other operating income. The company saw strong growth across different segments, with robust gains in revenue, net interest income, and commission and fees.
The company recorded a net decrease in the number of clients in 2021, causing their net commissions to dip.
Most of the decline appears to be attributed to the transfer of clients to affiliated entities following Brexit. With the UK now out of the European Union, many businesses are understandably reevaluating their options and making changes accordingly. As a result, Interactive Brokers UK saw its client base shrink by 45.5%.
Capital
Interactive Brokers UK Limited saw a big jump in its total capital last year, according to the latest financial reports.
Total capital by the end of 2021 was £153.6 million, up more than 13% from £134.9 million in 2020.
