Commercial Bank Of Dubai Reports 26.1 Percent Increase In Net Profit To AED1.063 bn #Dubai - Dubai City Guide
Guest Posts, Link Building, SEO, Pay-Per-Click campaigns
Advanced Search
Download our Media Kit

Restaurants

Education


 





Home / News / Latest 24 Hrs News
Latest 24 Hrs News
   

Commercial Bank Of Dubai Reports 26.1 Percent Increase In Net Profit To AED1.063 bn
(17 October 2019)

 

Commercial Bank of Dubai today reported a net profit of AED1,063 million for the first nine months of 2019, a 26.1 percent increase over the same period last year.

In a statement today, the bank said the operating profit is 14.9 percent higher at AED1.589 billion, with the operating income hitting AED2,242 million, up 11.1% year on year driven by higher net interest income and other operating income.

Operating expenses increased by 2.9 percent to AED 653 million, with the operating profit up by 14.9 percent to AED1,589 million. Net impairment allowances were AED 526 million, lower by 2.6 percent when compared to the first nine months of 2018.

Commenting on the bank’s performance, Dr. Bernd van Linder, Chief Executive Officer, said, "CBD has delivered its best ever nine-month result with the bank’s net profit increasing by 26 percent for the first three quarters of 2019. The result has been achieved by fostering a culture of growth and disciplined execution of our well-planned strategy. We anticipate a consistent result in Q4 and remain on track to deliver a record result for the full year. The group continues to deliver strong net profit growth, above target return on equity and with a CET1 ratio of 13.59 percent the group remains well-capitalised."

He added, "We continue to invest in new technology and have embarked on a progressive digital transformation programme across the bank to help us expand and improve services to our customers."

We accept Guest Posts


DubaiCityGuide.com is owned and managed by Cyber Gear



  All fields are mandatory
Your Name
Email
City
Country
Your Comments
 Max 250 characters - Word Count :
Image Verification
Change Image

     
 
email print
1355
 

Sponsored By : PressReleaseNetwork.com           Sponsored Opportunities

       
       
   
       

Hotels hotels Check out Hotels in Dubai
Shopping shopping A complete Mall & Store Guide
Dining dining Eating out at the coolest spots
Sightseeing sightseeing Things to see & do
DCG Recommends dcg recommends Best of the best in Entertainment
News Alerts
News Alerts
Stay ahead with dubai news
dcg mobile
dcg Mobile
With you wherever you go
rss feed
RSS Feeds
Get the latest
dubai blog
Dubai Blog
Your space, your voice
sitemap
Sitemap
DCG at a glance