In November
2023, the publicly listed XTB surpassed 200,000 open accounts in the Polish stock exchange,
becoming the third-largest brokerage house in its home country. This milestone
means that one in four of the 847,000 accounts managed by this fintech company worldwide belongs to clients from the largest economy in Central and Eastern Europe
(CEE).
The news of
XTB’s significant milestone in the Polish market was first reported last Friday
and confirmed on Monday by data from the National Depository for Securities
(KDPW). In November, XTB acquired nearly 14,000 new clients, also marking a
significant increase of 74,000 clients compared to the previous year.
This rapid retail
traders accumulation makes XTB not only the third-largest brokerage house in
Poland (trailing the second, BM Pekao, by only 4,000 accounts) but also the
firm that is gaining new clients most dynamically. 78% of all new accounts
opened in Poland in November belonged to XTB, compared to 62% from the previous
year.
|
Position |
Company |
Number of accounts (Nov 2023) |
MoM change |
Yoy change |
|
1 |
mBank S.A. Biuro Maklerskie |
431 053 |
1 649 |
15 942 |
|
2 |
BM Pekao |
205 523 |
-176 |
1 105 |
|
3 |
XTB S.A. |
201 056 |
13 797 |
74 386 |
|
4 |
ING Bank Śląski S.A. Biuro Maklerskie |
183 778 |
379 |
6 087 |
|
5 |
BM PKO BP |
152 096 |
402 |
3 657 |
„We have
products for both active investors and those preferring passive strategies.
Therefore, our growing position in the stock market is a natural development,”
Omar Arnaout, the CEO of XTB, commented for Finance Magnates.
The market
responded quickly to this news, with XTB’s shares on the Warsaw Stock Exchange
growing by up to 7% in two days, reaching their highest levels since
mid-August, which is a four-month high.
XTB shares on the WSE. Source: Tradingview.com
Arnaout
attributes part of this dynamic expansion to introducing passive
solutions to their offerings, which include interest on idle client deposits
and “investment plans” based on ETFs.
„XTB is a
one-stop-shop for every investor willing to take investments in his own hands,”
Arnaout added.
Poland,
XTB’s country of origin, is a significant part of the broker’s offerings and
revenues. Approximately 25% of the 847,000 clients served globally by XTB are
from this CEE country.
Impact of the New AI
Department on Revenues
At the end
of November, XTB announced the launch of a new artificial intelligence (AI)
department, headed by Tomasz Gawron. This AI team is responsible for developing
solutions that support the business operations and trading platforms of the publicly
listed company.
In addition
to new passive products, AI solutions are expected to help maintain XTB’s high
momentum in acquiring new clients and also boost revenues, which saw a 29% drop
in the third quarter due to decreasing market volatility .
„Our main
goal is to ensure that the XTB investment app offers the widest possible range
of investment products together with the highest level of technology,” Arnaout
concluded.
In November
2023, the publicly listed XTB surpassed 200,000 open accounts in the Polish stock exchange,
becoming the third-largest brokerage house in its home country. This milestone
means that one in four of the 847,000 accounts managed by this fintech company worldwide belongs to clients from the largest economy in Central and Eastern Europe
(CEE).
The news of
XTB’s significant milestone in the Polish market was first reported last Friday
and confirmed on Monday by data from the National Depository for Securities
(KDPW). In November, XTB acquired nearly 14,000 new clients, also marking a
significant increase of 74,000 clients compared to the previous year.
This rapid retail
traders accumulation makes XTB not only the third-largest brokerage house in
Poland (trailing the second, BM Pekao, by only 4,000 accounts) but also the
firm that is gaining new clients most dynamically. 78% of all new accounts
opened in Poland in November belonged to XTB, compared to 62% from the previous
year.
|
Position |
Company |
Number of accounts (Nov 2023) |
MoM change |
Yoy change |
|
1 |
mBank S.A. Biuro Maklerskie |
431 053 |
1 649 |
15 942 |
|
2 |
BM Pekao |
205 523 |
-176 |
1 105 |
|
3 |
XTB S.A. |
201 056 |
13 797 |
74 386 |
|
4 |
ING Bank Śląski S.A. Biuro Maklerskie |
183 778 |
379 |
6 087 |
|
5 |
BM PKO BP |
152 096 |
402 |
3 657 |
„We have
products for both active investors and those preferring passive strategies.
Therefore, our growing position in the stock market is a natural development,”
Omar Arnaout, the CEO of XTB, commented for Finance Magnates.
The market
responded quickly to this news, with XTB’s shares on the Warsaw Stock Exchange
growing by up to 7% in two days, reaching their highest levels since
mid-August, which is a four-month high.
XTB shares on the WSE. Source: Tradingview.com
Arnaout
attributes part of this dynamic expansion to introducing passive
solutions to their offerings, which include interest on idle client deposits
and “investment plans” based on ETFs.
„XTB is a
one-stop-shop for every investor willing to take investments in his own hands,”
Arnaout added.
Poland,
XTB’s country of origin, is a significant part of the broker’s offerings and
revenues. Approximately 25% of the 847,000 clients served globally by XTB are
from this CEE country.
Impact of the New AI
Department on Revenues
At the end
of November, XTB announced the launch of a new artificial intelligence (AI)
department, headed by Tomasz Gawron. This AI team is responsible for developing
solutions that support the business operations and trading platforms of the publicly
listed company.
In addition
to new passive products, AI solutions are expected to help maintain XTB’s high
momentum in acquiring new clients and also boost revenues, which saw a 29% drop
in the third quarter due to decreasing market volatility .
„Our main
goal is to ensure that the XTB investment app offers the widest possible range
of investment products together with the highest level of technology,” Arnaout
concluded.
