CBD posts 22% growth in quarter

Dubai: Commercial Bank of Dubai (CBD) yesterday reported 22 per cent growth in the first quarter to Dh267 million compared to Dh218 million in the same period of 2007.

The core banking profit increased by 32 per cent to Dh222 million in comparison to Dh168 million for the first quarter of 2007. Net interest income for the period was Dh246 million with a 28 per cent increase over last year's figures. Fees and commission grew by 35 per cent.

Peter Baltussen, chief executive, said: "CBD continues to make tremendous progress across all its business lines and is characterised with excellent growth in the balance sheet."