Dubai – Mubasher: The Commercial Bank of Dubai (CBD) has reported a 3.5% rise in net profits for the first quarter of the year to AED 295 million ($80.3 million) compared to AED 285 million ($77.5 million) in the same period in 2013, according to a filing to the Dubai Financial Market (DFM) on Wednesday.

The CBD previously reported a 19% surge in annual net profits for 2014 to AED 1.2 billion against AED 1.01 billion in 2013.

The bank’s shareholders on 4 March approved a 25% cash dividend, amounting to AED 0.25 per share and totalling AED 560.6 million in addition to a 25% bonus share dividend, thus raising capital from AED 2.24 billion to AED 2.8 billion.