Market Overview

MultiBank Group Announces Record Financial Performance of Gross Profit of US$ 94 million for Q1-Q3 of 2020

Share:

MultiBank Group, one of the largest online financial derivatives providers worldwide, announces record figures, with Q1-Q3 results being up by 49% YOY. The Group recorded a gross profit of over USD $94 million for the period of January – September 2020 which is a substantial increase from USD $63 million for the same period in 2019.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201105005600/en/

MultiBank Group Announces Record Financial Performance of Gross Profit of US$ 94 million for Q1-Q3 of 2020 (Graphic: Business Wire)

MultiBank Group Announces Record Financial Performance of Gross Profit of US$ 94 million for Q1-Q3 of 2020 (Graphic: Business Wire)

Impressively, MultiBank Group's turnover is over US$ 2 trillion for Q1-Q3 in 2020, which already exceeds the 2019 annual turnover of USD $1.9 trillion, setting them up for overall financial record-breaking year.

MultiBank Group has continued to see growth across its key metrics year on year which has been underpinned by exceptional performance across its key areas of strategic focus and the dexterity of technology infrastructure.

Geographically, the Group continues to expand and cater to key markets. Greater China was the largest source of revenue in FY 2019 with a share of 36% total revenue. However, since the relocation of its headquarters to Hong Kong and United Arab Emirates; MultiBank's regional sources of revenue are increasingly diversified throughout Rest of Asia, Middle East, and Latin America.

Naser Taher, Chairman of MultiBank Group, says:

"It has been an incredible year so far and we're extremely motivated by the results thus far and look forward to finishing 2020 in an exceptionally strong position. The MultiBank Group continues to deliver on its vision to provide our clients with award winning technologies and services being a fully automated exchange platform, global brokerage, and highly developed asset management solutions."

For more information about the MultiBank Group, please visit www.multibankfx.com.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com