HONG KONG, Aug. 14, 2023 /PRNewswire/ -- Futu Holdings
Limited (Nasdaq: FUTU, "Futu"), a leading tech-driven online
brokerage and wealth management platform, was granted a long-term
issuer credit rating "BBB-", by major global rating agency Standard
& Poor's (S&P), for its third consecutive year.
In S&P's report, Futu was expected to steadily grow its
client base over the next two years, particularly in overseas
markets.
S&P believes that Futu will be able to continue serving its
existing mainland client base. Futu continues to offer quality
trading services to its existing mainland China clients, bringing its operations into
full compliance with China
regulatory requirements.
Meanwhile, S&P underscored Futu's good track record of
client retention in the last few years. According to Futu'
financial reports, the company's paying client retention rate has
maintained at approximately 98% for 16 consecutive quarters, since
its listing on Nasdaq stock exchange in 2019. At the end of the
first quarter this year, the number of Futu's paying clients
surpassed 1.5 million and the user base, coming from more than 200
countries and regions, exceeded 20 million.
S&P also mentioned that the expansion of Futu's product
offering and services will enhance clients' engagement and
retention, and bring more stable recurring income streams for the
next two to three years.
The rating agency reiterated Futu's good share in Hong Kong's retail brokerage market along with
strong capitalization and adequate risk controls. With an estimated
10% market share in Hong Kong's
retail stock trading sector, S&P believed the company will
continue to leverage its brand name, good user experience, and
stable technology infrastructure to support its business
growth.
Futu announced its overseas subsidiaries expanded footprints
into Canada in August, after its
outreach in the US, Singapore,
Australia, and other markets. This
will bring Canadian investors easy-to-use pro-grade tools,
financial data, and investment insights, enabling them to analyze
lucrative opportunities in global markets, especially in the US
stock market.
About Futu
Futu Holdings Limited ("Futu") (Nasdaq: FUTU) is an advanced
fintech company upgrading the investing experience by offering
fully digitalized financial services in multiple markets. Futu was
listed on Nasdaq on March 8, 2019.
Futu offers market data, financial news, interactive social
features, and investor education on its proprietary one-stop
digital platforms Futubull and moomoo. Its subsidiaries provide
clients with investing services including trading and clearing
services for United States, Hong
Kong SAR, China Connect, Singapore, and Australia stocks, margin financing and
securities lending, and wealth management. By creating an ecosystem
centered around its users, Futu provides connectivity to users,
investors, analysts, media, companies, and institutions. Futu also
provides Employee Stock Ownership Plan (ESOP) solutions, initial
public offering (IPO) distribution, and investor relations (IR) and
public relations (PR) services through its institutional and
corporate services brand, becoming the go-to partner of many
well-known companies. Futu Trustee provides one-stop wealth
management solutions for corporate clients and high-net-worth
individuals and families, and revolutionizes service delivery for
ESOP Trust Administration, Family Trust, and Family Office through
technology.
Contact - futupr@futunn.com
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SOURCE Futu Holdings