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CBD registers AED 1.32bn in 9M-22 profits

CBD registers AED 1.32bn in 9M-22 profits
11.63% 8.16 0.85

Dubai – Mubasher: The Commercial Bank of Dubai (CBD) generated AED 1.32 billion in net profit during the first nine months (9M) of 2022, up 25.80% year-on-year (YoY) from AED 1.05 billion.

Meanwhile, the total operating income reached AED 2.71 billion in January-September 2022, an annual growth of 13.90% from AED 2.38 billion, according to the income statements.

The basic and diluted earnings per share (EPS) rose to AED 0.45 in 9M-22 from AED 0.35 in 9M-21.

In 9M-22, the total assets amounted to AED 117.53 billion, a jump from AED 114.21 billion as on 31 December 2021.

In the third quarter (Q3) of 2022, the net profits increased to AED 455.62 million from SAR 375.01 million, while the total operating income rose to AED 985.93 million from AED 815.94 million.

Furthermore, the basic and diluted EPS stood at AED 0.16 in Q3-22, compared to SAR 0.13 in Q3-21.

Bernd van Linder, CEO of CBD, said: “CBD has accomplished a solid result attributable to strong revenue and improved business performance.”

The CEO added: “The UAE economy continues to perform strongly and we anticipate a healthy 2023 domestic business environment. CBD will continue to back the UAE's ambitions and will dedicate efforts toward developing a more sustainable future.”

During the January-June 2022 period, the net profits of CBD totalled AED 866.38 million, higher by 28.10% YoY than AED 676.05 million.