Polish retail trading company XTB reported record revenue of $938 million in the first half of 2024, a 12.9% increase year-over-year. Net profit rose by 10% to $463 million despite higher marketing and employment costs. XTB added 232,300 new clients, reaching a total of 1.11 million.
While Q1 was strong, Q2 saw net profit drop to $40 million from $77 million in Q1. However, active clients remained high, increasing over 50% from the first half of 2023.
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XTB is shifting from a CFD broker to a universal investment app, with 80% of new clients investing in stocks, ETFs, or creating investment plans. Net deposits more than doubled to $3.80 billion.
Future plans include launching bond offerings, IKE retirement accounts, and a virtual wallet with a multi-currency card. XTB also aims to expand into Brazil and Indonesia by early 2025.
