Monday , July 16 2018

CBD net profit up 68.7%

Dubai / WAM

The Commercial Bank of Dubai (CBD) on Wednesday reported its financial results for the first half of 2018.
H1 profit was AED 561 million, 68.7% higher on the back of a 1.1% increase in operating income and a 5.6% decline in operating expenses. The impairment allowances meanwhile decreased by 35.5%.
Operating income increased by 1.1% to AED 1,328 million, mainly owing to a 6% increase in net interest income to AED 938 million (H1-2017: AED 885 million) while non-interest income decreased by 9% to AED390 million (H1-2017: AED428 million).
The Fees & commission income increased by 2.8%, foreign exchange income regis- tered a 27.6% increase and other income increased by 12.3% over the first half of 2017, while investment income declined by 82.4% due to a one-off dividend of AED 55.7 million received in H1-2017.

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