Abu Dhabi – Mubasher: The interim financial results of Commercial Bank International (CBI) registered a decline in net profits attributable to the owners of the bank to AED 50.63 million during the first nine months of 2020 from AED 77.91 million in the year-ago period.

The bank's net interest income and income from Islamic financing and investing assets decreased to AED 327.86 million in the January-September period of 2020 from AED 359.427 million in the same period of 2019.

The bank's net operating income reached AED 611.9 million in the first nine months of 2020, up by 6% compared to AED 579.98 million in the same period of the prior year.

The basic and diluted earnings per share (EPS) for continuing and discontinued operations settled at AED 0.029 in the first nine months of 2020, versus AED 0.045 in the corresponding period of 2019.

Meanwhile, the bank's net profits attributable to the owners rose to AED 66.43 million during the third quarter (Q3) of 2020 from AED 31.83 million in the corresponding period of 2019.

Commenting on the bank's performance, the CEO of CBI, Ali Sultan Rakkad Al Amri, said: "As the pandemic continues to impact lives and businesses around the globe, we have relentlessly focused on supporting our customers through these challenging times. Our third-quarter financial results are reflective of the unprecedented difficulties caused by Covid-19."

It is noteworthy to mention that in the first half (H1) of 2020, the bank's net profits plunged by 66% to AED 16 million, compared to AED 46 million in H1-19.