Dubai – Mubasher: The net profits of Commercial Bank of Dubai (CBD) surged by 20.5% year-on-year (YoY) to AED 1.4 billion in 2019, compared to AED 1.162 billion in 2018.

The bank’s total assets increased to AED 88.068 billion last year from AED 74.101 billion a year earlier, according to the bank’s financial results for 2019 released on Thursday.

The lender’s operating income for 2019 amounted to AED 3.033 billion, up 11.3% due to an increase in net interest income and other operating income by 2.8% and 31.2%, respectively.

At the same time, the bank’s basic earnings per share (EPS) stood at AED 0.50 in 2019 from AED 0.41 in the earlier year.

It is noteworthy to mention that during the third quarter of 2019, the CBD’s net profit reached AED 362 million, compared to AED 361 million in the same period the prior year.