Commercial Bank of Dubai posted a net profit of 315 million dirhams during the first quarter of 2020.
According to the Emirates News Agency, the total assets amounted to 89.9 billion dirhams, as on March 31, 2020, up by 2.1% compared to 88.1 billion dirhams, as of December 31, 2019. The net loans and advances amounting to 62.3 billion dirhams increased by 3.6% compared to 60.2 billion dirhams as on December 31 2019.
Customer deposits increased by 0.9% to reach 63.9 billion dirhams as of March 31, 2020 compared to 63.3 billion dirhams as of December 31, 2019 ... Current and low-cost savings accounts constitute 40.6% of total customer deposits, while the financing ratio reached Deposits 97.6%.
The financial results of the bank indicated that the ratio of classified loans increased to 6.59%, compared to 5.94% as of December 31, 2019.
The bank continued to maintain strong levels of liquidity, as the ratio of loans to stable funds reached 90.8% as of March 31, 2020/2019: 88.0% / compared to 100% according to the instructions of the Central Bank of the United Arab Emirates.
“The bank’s capital base continues to provide significantly to provide a strong foundation for continuous support to our customers ... where the liquidity ratios and the proportion of eligible liquid assets have recorded significantly higher levels than the minimum required according to the instructions of the Central Bank of the United Arab Emirates,” said Dr. Bernards Van Linder, CEO of the bank. / p>
