CBI reports Dh41 million H1 net profit
Operating profit up by 5% to Dh204 million
Dubai: Commercial Bank International (CBI) on Tuesday reported a net profit of Dh41 million compared to Dh81 million in H1 2018.
Operating profit was up by 5 per cent to Dh204 million from Dh194 million in H1 2018. Net fee and commission income was up by 7 per cent to Dh108 million from Dh101 million in H1 2018. Operating expenses were down by 14 per cent to Dh176 million from Dh204 million in H1 2018.
“During the first half of 2019, we have focused on growing CBI’s core businesses and fulfilling our clients’ needs with better product and service offerings. As a result of our continuous focus on cost control, our efficiency has also improved substantially,” said Ali Sultan Rakkad Al Amri, Acting CEO of CBI.
CBI saw a steady first half, as a result of a continued focus on growing revenues, controlling costs and redefining customer experience. The Capital Adequacy Ratio in H1 2019 remained stable at 14.7 per cent.