On Monday morning, the XTB shares growth rose by a double-digit following a positive review from the Polish Financial Supervision Authority (KNF).
According to the report, the brokerage received the Polish risk assessment framework (BION) score for its dividend distribution for 2019 with a positive view for 2020.
The KNF’s view on dividend policy in 2021 shows that the current supervisory rating for XTB is at the level the Polish Financial Supervision Authority criteria recommends.
The broker noted in the announcement that the criteria allow the Company to pay out dividends for the current year.
The news led to a jump in publicly-traded XTB shares by over 10%. At the time of the press release, each share traded at PLN 18.20, 12% higher than the previous day’s close.
Solid business performance
Watchdog in Poland, the UK, and Spain regulate XTB trading services with several assets. They include forex, commodities, indices, stock CFDs, and cryptocurrencies.
XTB is also planning to expand its services to Asia next year to meet its global growth targets.
Omar Arnaout, CEO at XTB DM SA, said they would parameterize the Asian market by the end of the year to start operating at the beginning of 2021.
Meanwhile, the broker posted constant growth in profits for the last several quarters. The broker reported a 129.1% jump in revenue year-on-year for the 3rd quarter.
Furthermore, the broker’s client activity soared to a record last quarter.
- Trading Instument
Amanda Hansen