Abu Dhabi – Mubasher: Commercial Bank International (CBI) reported unaudited net profits attributable to the owners of AED 21.23 million in the first quarter (Q1) of 2022, versus net losses of AED 96.14 million in Q1-21, according to the bank's interim financials for the three-month period ended 31 March 2022.

The bank's net interest income and income from Islamic financing and investing assets declined to AED 85.62 million in Q1-22 from AED 90.45 million in the year-ago period.

The lender's net operating income retreated to AED 110.77 million in the first three months (3M) of 2022, compared to AED 129.04 million in the same period of 2021.

Meanwhile, the bank's assets increased by 31% year-on-year (YoY) to AED 21 billion in Q1-22 from AED 16 billion in Q1-21. 

The basic and diluted earnings per share (EPS) stood at AED 0.01 in Q1-22, against losses per share of AED 0.05 in the corresponding period of the earlier year.

It is noteworthy to mention that in 2021, CBI posted a hike in the net profits attributable to the owners to AED 121.78 million from AED 27.34 million in the earlier year.