XTB Witnesses 69% Increase in Profits for Q4 2021

XTB, a Poland-based retail broker, recently released its Q4 report, noting a 69% surge in profits. The company also reported a 31.2% year-over-year jump in operating income, with other parameters showing immense growth.

In absolute terms, the operating income for the quarter came in at PLN 183.6 million. Besides the growth in the quarterly revenue, the broker also amassed a net profit of 238.3 million PLN. The number accounted for a 69% growth with a 47.1% year-over-year growth in EBIT, reaching 83 million PLN. However, all did not go well for the broker as its overall yearly figure fell compared to 2020.

XTB generated over 625.6 million PLN in operating revenue and 238.3 million PLN in net profits. The amounts convert to 21.6% and 40.7% reduction for the broker.

On the other hand, XTB improved its client acquisition in terms of both quarterly and yearly numbers. The last three months of 2021 helped the broker onboard 42,760 clients, which is 11.3% higher than 2021. In terms of a full-year review, the amount surged by 69% to reach 189,187.

XTB is also expanding its footprints in foreign markets, especially in Africa and the Middle East. Moreover, the broker launched its MENA subsidiary in October 2021 while it is waiting to commence operations in South Africa. Given the pace at which XTB is increasing its reach, South African users can expect to receive its services soon.