Q3 2023 GFH Financial Group BSC Earnings Call Transcript
Good afternoon, and a warm welcome to GFH Financial Group's results presentation for the nine months of 2023. My name is Surya Hariharan, and today we will present the financial information of GFH Financial Group for third quarter of this year as well as for the nine months of 2023. (technical difficulty) high profit rate environment and global market uncertainties, we, at GFH, continue to report another quarter of positive performance.
Let me provide you with the key highlights achieved by the Group for the third quarter of 2023 in comparison to comparative period of 2022. Net profit attributable to shareholders of USD24.3 million, up by around 1%. Consolidated net profit for the period of USD23.9 million, a drop of 8.4%. Rise in total income for the period by 32.9% to USD87.6 million, primarily from growth in the investment banking business line of the Group. Increase in operating expenses by 60% during the period to USD63.7 million.
Operating expenses of the newly acquired subsidiaries contributed primarily to this increase.
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