Abu Dhabi – Mubasher: Commercial Bank International (CBI), listed on Abu Dhabi Securities Exchange (ADX), has reported its financial results for the first half of 2019.

Net profit stood at of AED 41 million for H1-19, versus AED 81 million in the same period a year ago, CBI said in a press release.

The bank’s operating profit grew by 5% year-on-year during the six-month period ended 30 June 2019, from AED 194 million.

Net fee and commission income reached AED 108 million in H1-19, up 7% from AED 101 million in the prior-year period.

Operating expenses fell by 14% year-on-year in H1-19 to AED 176 million from AED 204 million.

The capital adequacy ratio remained unchanged at 14.7% in H1-19.

Ali Sultan Rakkad Al Amri, Acting CEO of CBI, commented: “During the first half of 2019, we have focused on growing CBI’s core businesses and fulfilling our clients’ needs with better product and service offerings. As a result of our continuous focus on cost control, our efficiency has also improved substantially.”

CBI previously posted a net profit of AED 20 million for Q1-19, versus AED 39.5 million in Q1-18.