Dubai – Mubasher: The Dubai Financial Market (DFM) registered a 21% increase in its net profit to AED 78.9 million in the first half (H1) of 2020, compared to AED 65.1 million during the corresponding period of 2019.

Revenues recorded a total of AED 181.1 million in H1-20, compared to AED 163.5 million during H1- 2019.

For the second quarter (Q2) of 2020, the net profit reached AED 44.2 million, rising by 20% year-on-year (YoY).

The second quarter performance clearly indicates the DFM’s resiliency in containing international markets’ volatility due to the repercussions of unprecedented circumstances triggered by the COVID-19 pandemic with the general index advancing 16%,” Essa Kazim, Chairman of the Dubai Financial Market Company, commented.

Meanwhile, the trading value increased by 25%, exceeding AED 31 billion.

During H1-20, the DFM attracted 1,718 new investors, while foreign investors accounted for 49% of trading value and 18.2% of market capitalization.

On Monday, DFM announced that its Board of Directors has approved the appointment of Hassan Al Serkal as the new CEO of DFM with immediate effect.