Dubai – Mubasher: The Commercial Bank of Dubai (CBD) has reported a 28.8% year-on-year (YoY) increase in net profits to AED 1.051 billion during the first nine months of 2021, compared to AED 815.763 million in the year-ago period, according to the bank's consolidated interim financials for the nine-month period ended 30 September 2021.

The bank's net interest income and net income from Islamic financing amounted to AED 1.567 billion in the January-September period of 2021, up 14.2% from AED 1.372 billion in the corresponding period of 2020.

The bank's assets jumped to AED 107.75 billion as of 30 September 2021, compared to AED 97.36 billion as of 31 December 2020.

During the third quarter (Q3) of 2021, the bank's net profits rose to AED 375.01 million from AED 285.33 million in the same quarter of the earlier year.

The CEO of CBD, Bernd van Linder, commented: "CBD continues to deliver on its strategy and is poised to end the year on a strong footing as loans reached a record of AED 79b. With business conditions and confidence recovering, we remain positive looking ahead to 2022."

It is noteworthy to mention that during the first half (H1) of 2021, CBD reported a 27.5% rise in net profits to AED 676.055 million, compared to AED 530.431 million in the year-ago period.