Commercial Bank International posts 67% surge in profit on higher loan growth
The bank’s net operating income stood at Dh157.6 million in Q2-22
Dubai: Commercial Bank International (CBI) reported a 67 per cent rise in its second quarter net profit, boosted by higher loan growth.
The UAE bank posted a net profit of Dh34.4 million in the second quarter of 2022, up from Dh20.6 million in the previous quarter. CBI’s operating profit in the same period surged 82 per cent to Dh73.2 million.
“We continue to support our customers and contribute strongly to economic growth in line with the UAE’s strategy that focuses on growth and development,” said Ali Al Amri, CEO of Commercial Bank International.
“Despite the ongoing challenges in the global macroeconomic environment, we will continue to focus on providing our customers with high quality services and help them realize their ambitions,” said Al Amri.
The bank’s net operating income stood at Dh157.6 million in the reported quarter, compared to Dh110.8 million in the preceding quarter.