Commercial Bank of Dubai’s profit surges in 6M

Commercial Bank of Dubai’s profit surges in 6M
The bank’s operating income grew to AED 1.32 billion
CBD
CBD
-2.98% 3.90 -0.12

Dubai – Mubasher: Commercial Bank of Dubai (CBD) has reported a 69% year-on-year hike in net profit during the first six months of 2018, recording AED 560.77 million.

The bank’s operating income grew 1.06% YoY to AED 1.32 billion in H1-18, according to an official statement.

Provision for impairment of loans dropped 35.6% YoY to AED 346.43 million during the period between  January to June, while operating expenses declined 5.6% YoY to AED 424 million in the same period, CBD’s data showed.

In February, the Dubai-listed bank posted a 12% YoY growth in net profit during the last quarter of 2017, registering AED 337.2 million.