Abu Dhabi – Mubasher: Commercial Bank International (CBI) has announced in a filing to the Abu Dhabi Securities Exchange (ADX) that its Board of Directors will convene on Tuesday, February 3, during trading hours, to tackle the Bank’s financials for the fiscal year ended December 31, 2014.

The Board will also probe a capital increase for the Bank.

This comes amid optimistic expectations for UAE banks’ financials. Bankers have said that they expect UAE banks to record their highest financials ever, after hitting the AED 28 billion mark in 2013 and AED 23.8 billion in 2012. Combined profits are expected to reach around AED 35 billion, continuing growth achieved during the first nine months of 2014.

The CBI saw a 25.5% profit growth during the first nine months of 2014, compared to the same period in 2013. Its capital amounts to AED 1.65 billion distributed in 1.65 billion shares at par value AED 1 per share.

Photo Credit: Arabianeye-Reuters