FNG Exclusive… FNG has learned that London based institutional broker ITI Capital saw a 12% erosion in Revenues during 2023, although a much lower cost base – as the company exited the retail client business – led to much improved profitability.
Revenues at ITI Capital came in at £10.2 million in 2o23, down as noted by 12% from £11.6 million in 2022. However Net Profit of £4.3 million compared to a £195K loss the previous year, despite the lower revenue base, as ITI cut its Admin expenses from £11.8 million in 2022 to just £5.0 million last year.
ITI Capital, owned by Guernsey based investment firm Da Vinci Capital, provides comprehensive dealing and brokerage services for professional and institutional clients and eligible counterparties. The firm is an FCA regulated company, holding a Limited License – matched principal broker.
ITI said that it plans to continue developing its…
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