Shares of brokerage company XTB jumped 13% during Thursday's trading session after the company released its financial report for the first quarter of 2023.
XTB's share price peaked at PLN 41.12, which is the first time the brokerage's shares have exceeded PLN 40. The stock closed at PLN 39.94, which is a record high since the company's establishment.
As the stock rose, XTB's market capitalization reached 4.69 billion zlotys, or $1.13 billion, according to FNG website.
In March, the broker announced a profit distribution for 2022, which also had a positive impact on the stock. The news that 75% of XTB's 2022 profits would be used for share buybacks and dividends helped investors decide to increase the value of the company's securities.
As previously reported, the broker achieved record profits in the first quarter of 2023 and increased its client base by 104,200 new users.
Founded in 2002, XTB focuses on the European segment of the market and is the recipient of prestigious awards and accolades. The broker is suitable for beginners as the deposit starts at only $1.
