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Dubai Financial Market announces 109% rise in net profit for the first nine
months of 2023 to AED 186.2 Million
• In the first nine months of 2023, the DFM attracted 35,357 new investors, 72% of
which were foreign investors, expanding the current investor base to more than a
million.
• Trading value reached AED 78 billion, a 12% increase over the same period last year
• DFM General Index rose by 25% and market capitalization reached AED 697 billion,
more than doubling since 2020.
Dubai, 30 October 2023 – Dubai Financial Market (DFM) today announced its consolidated
financial results for the period ended 30 September 2023. Net profit increased by 109% to
AED 186.2 million, compared to AED 89 million in the corresponding period in 2022. With a
notable increase in the number of trades, overall trade value, and an influx of new investors,
DFM’s robust performance reinforces Dubai as the pivotal hub in the global financial
landscape.
Strong financial performance
DFM’s total consolidated revenue increased by 48% to AED 351.8 million during the first
nine months of 2023, compared to AED 237.8 million during the corresponding period of
2022. The revenue comprises AED 214.2 million in operating income and AED 137.6
million in investment returns and other income. Meanwhile, total expenses reached AED
165.6 million compared to AED 148.8 million in the same period ending September 2022.
Robust trading activity
The total number of trades increased to 1.43 million trades in the first nine months of 2023,
representing a notable 37% increase in trading activity over the same period last year.
Concurrently, the total trading value rose to AED 78 billion, recording an increase of 13% over
the same period last year. The DFM General Index also rose by 25% during this period, closing
at 4,136.58.
Sustained investor confidence
In the first nine months of 2023, DFM proudly welcomed 35,357 new investors to its platform,
of which 72% were from foreign markets representing over 200 nationalities, bringing the
current investor base to over one million. Additionally, institutional investors accounted for
56% of the trading value, with net purchases of AED 1.54 billion. This influx of new investors
demonstrates DFM's global appeal as a thriving financial ecosystem.
Diverse sectoral representation
DFM's market capitalization witnessed substantial growth, increasing from AED 576 billion in
9M 2022 to AED 697 billion in 9M 2023. DFM’s sector distribution by market capitalization:Financials at 41%, Utilities at 23%, Real Estate at 17%, Industrials at 14%, Communication
Services at 3%, with others such as Consumer Staples making up the rest. This presents
opportunities to bring underrepresented sectors to the market and reflects Dubai’s GDP mix.
Commenting on DFM’s resilient performance, H.E Helal Saeed Al Marri, Chairman of DFM,
said: "We are pleased to report a significant increase in revenue and net income the first nine
months of the year, underscoring our unwavering commitment to diversification and our
forward thinking initiatives to position DFM as the marketplace of choice for both investors
and issuers."
Hamed Ali, CEO of DFM and Nasdaq Dubai, said, “The robust performance witnessed in the
first nine months of the year reflects the resilience and strength of Dubai’s capital market.
With a significant increase in our trade numbers, expanding sector diversity, and a surge in
new investors, DFM is well positioned to continue driving growth and innovation in the global
financial landscape. Our commitment to expanding our product verticals with the introduction
of new asset classes, onboarding of digital brokers for seamless trading experience, and the
launch of innovative programs such as the IPO Accelerator underscores our dedication to
strengthening the overall financial ecosystem.’’
He added, “The increase in our foreign investor base can be attributed to the success of our
international roadshows. DFM's recent roadshow in Singapore last month witnessed
impressive participation, fostering global partnerships, and enhancing our international
presence. We are now looking to further expand DFM’s reach as we prepare for the upcoming
roadshow in New York next month."
Since its launch this year, DFM’s IPO Accelerator Programme, supported by 20 esteemed
regional and global advisors, has provided more than 40 participating private companies
including family businesses significant opportunities in their growth journey. Furthermore, in
line with DFM’s ongoing digital transformation efforts in 2023 till date, a number of brokers
were successfully onboarded, marking another milestone in DFM’s mission to keep innovation
at the forefront of their products and services.
-Ends-
About Dubai Financial Market:
Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a
secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of
the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or
foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari’a-
compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares,
representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company, and its shares were listed on 7
March 2007 with the trading symbol (DFM). Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM
Company through Borse Dubai Limited. www.dfm.ae
For further information, please contact:
Noora Al Soori
Communications and Public Relations
Dubai Financial Market
Tel: +971 4 305 5437
E: nalsoori@dfm.aeShruti Choudhury Shraddha Sundar
Account Director Account Manager
Edelman Smithfield Edelman Smithfield
M: +971 54 586 7874 M: +971 50 735 0608
E: dfmedelmansmithfield@edelman.com E: dfmedelmansmithfield@edelman.com

Sentiment: positive