MultiBank Group Reports $112 Million Profit in Record-Breaking Q3
Leading financial and technology services provider MultiBank Group has reported a third-quarter earnings record in 2023. The third quarter of 2023 was the most successful quarter in the Group’s history, with revenue of US$ 112,365,577 and trade turnover of US$3 trillion. MultiBank cited growth drivers as continued growth and expansion, with the results setting them up for another record-breaking year.
In addition, MultiBank Group disclosed its audited financial results for the entire 2022. The results show that revenue increased significantly by 48% between 2021 and 2022, jumping from $188,636,721 to $279,523,140, as reported in the most recent annual financial report. Additionally, MultiBank Group’s net income skyrocketed by 35% in 2022, from US$ 132,937,545 in 2021 to US$ 180,013,709, making 2022 yet another record-breaking year for the worldwide behemoth.
A fruitful 2023
The company debuted its most recent state-of-the-art product, MultiBank.io, in 2023. The financial ecosystem and multi-asset platform leverages both conventional and cutting-edge financial technology, including blockchain, AI, and machine learning. The Group says the product is built to improve the lives of millions of people throughout the world who participate in financial markets.
Since its inception, MultiBank Group has expanded to become one of the world’s leading online providers of financial derivatives, providing clients with brokerage services in addition to asset management. MultiBank’s European subsidiary, MEX Europe Ltd, has recently obtained an operating license from Cyprus Securities and Exchange Commission (CySEC). The Group says that the European license demonstrates its continued dedication to compliance with regulations and safeguarding of customer funds.