Commercial Bank of Dubai recorded a net profit of 340 million dirhams during the first quarter of 2019, achieving a growth of 21.6%.
According to the bank’s disclosure in the Dubai market, operating profit increased by 27.9% to 568 million dirhams, and operating income increased by 17.6% to reach 774 million dirhams, and came This increase is due to an increase in net interest income by 7.7% and an increase in other operating income by 40.4%.
Total assets increased 8.5% to 76.2 billion dirhams on March 31, 2019 compared to 70.2 billion dirhams as of March 31, 2018.
Customer deposits also increased by 13.3% to reach 54.6 billion dirhams on March 31, 2019 compared to 48.2 billion dirhams on March 31, 2018.
Dr. Bernards Van Linder, Chief Executive Officer of the Bank, said: Dubai Commercial achieved strong results in the first quarter of 2019 and continued to maintain its strong financial position, as head adequacy ratios improved. Money and liquidity is accompanied by a marked improvement in the proportion of loans classified and covered, and the ratio of operating efficiency.
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