The number of transactions for the period was down 4.2 million, which the company attributed to its withdrawal from the UK market, and trading volume came in at €69 billion, compared to 5.7 million transactions and trading volume of €132 billion, registered in the first half of last year.
Clients also fell to €24 million from €33.5 million in H1 2021. From 17,382, there were 19,233 active customers.
NAGA obtained licenses for Estonian and Seychelles earlier this year and confirmed its plans to re-enter UK markets.
NAGA has stated:
The targeted re-entry in the UK market is central to our growth goals. By year-end 2021, we had exited the UK – NAGA’s best market to date and also the largest CFD market in the world – and had to reallocate budgets to other countries, resulting in various inefficiencies (including an increase in customer acquisition costs). By Q2 2023, we plan to re-enter UK and activate our existing customers. This will allow us to immediately achieve EBITDA benefits at minimal costs.
LeapRate first published the post NAGA Group experiences a 51% increase in H1 revenue in 2022