Dubai – Mubasher: The net profits of Commercial Bank of Dubai (CBD) dropped to AED 530.431 million in the first six months of 2020, compared to AED 701.15 million in the same period of 2019, according to the bank's consolidated interim financial results for the period ended on 30 June 2020.

The bank's net income recorded AED 916.75 million in the first half (H1) of 2020, down from AED 1.129 billion in the year-ago period.

The basic and diluted earnings per share (EPS) settle at AED 0.19 in H1-20, versus AED 0.25 in the corresponding period of 2019.

The lender's assets increased to AED 93.68 billion as of 30 June 2020 from AED 88.068 billion in 2019.

During the second quarter (Q2) of 2020, the bank's net profits reached AED 215.108 million, down from AED 361.096 million in Q2-2019.

It is noteworthy to mention that in the first quarter (Q1) of 2020, the bank saw 7.3% lower net profits to AED 315.323 million, compared to AED 340.054 million in the same quarter of 2019.