Retail Brokerage MultiBank Group Records a Gross Profit of Over $94M for the First 3 Quarters

MultiBank Group, a global financial derivatives brokerage firm, has witnessed massive growth in the first three quarters of the present year. The firm has released financial results for the duration of January 2020 to September 2020. Over this time period, the company was able to record massive gains in gross profit.

As reported by MultiBank Group, the gross profit of the company for quarter 1 – quarter 3 of the year 2020 surpassed the $94 million figure. The Group’s Quarterly Gross Profit report reveals that the gross profit seen by the firm in the first three quarters of 2020 is $31 million higher than that of the previous year’s initial 3 quarters. Comparatively, the company saw a gross profit of approximately $63 million over the same time frame last year in 2019.

This represents a Year-on-Year (YOY) growth of around 49 percent in gross profit witnessed by the Group in these three quarters so far.

Moreover, the turnover of the firm also surged slightly high in 2020 as compared to the year 2019. Reportedly, the retail brokerage firm saw its turnover rising high to $2 trillion from January to September 2020. While on the other hand, the company recorded $1.9 trillion in annual turnover in 2019.

While releasing these three quarters’ accumulative financial results, the Chairman of MultiBank Group Naser Taher commented on the company’s amazing financial performance. He said that so far now, it has proven a fantastic year for them. He said that they are looking forward to making their financial position further strong till the end of the present year as the results of the first three quarters of the year have motivated them extremely well.

In addition to this, he also claimed to continue offering “award-winning technologies and services” to its customers in the future while serving as “a fully automated exchange platform, global brokerage, and highly developed asset management solutions” for them.

As a leading financial derivatives broker, MultiBank Group claims to offer a vast range of mobile trading platforms along with various trading products including Forex, Metals, Shares, Indices, etc.

Author: MubaShar Nawaz
MubaShar Nawaz is an experienced writer working for TheForexPro.info. Having passion for writing, he covers news articles from the finance and trading world.

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