Dubai – Mubasher: The Commercial Bank of Dubai’s (CBD) announced its net profit for the year ended December 31, 2014 in a bourse filing to the Dubai Financial Market (DFM). The Bank reported a 19% rise to AED 1.202 billion compared to AED 1.01 billion during the same period in 2013.

“A sixth consecutive year of growth in annual profit is testimony to the consistency of the Bank’s performance and reaffirms the overall strategy in place, formulated under the guidance of its Board of Directors”, CBD’s statement highlighted.

Profits for Q4-14 reached AED 312 million against AED 259 million in Q4-13, marking a 20.7% surge.

Operational revenue for the year increased by 10% to AED 2.24 billion against AED 2.03 billion in FY13.

It is worth noting that the CBD had reported an 18.4% profit rise during the first nine months of 2014 compared to the corresponding period in 2013, while its Q3 profits surged by 21.2%, compared to figures from Q3-13.

CBD’s capital amounts to AED 2.24 billion divided on 2.24 billion shares at par value AED 1 per share.