Commercial Bank of Dubai (CBD) announced that the bank's net profit for the first six months of 2024 was 1.45 billion dirhams.
Publish dateThursday 25 July 2024 - 17:51
The bank said strong growth in its loans in the first half of 2024 led to a solid net profit result, supported by non-financing income and a lower cost of risk, which more than offset higher costs.
UAE business activity, population growth and business confidence are positive and are expected to remain supportive in the coming periods.
Commenting on the bank's performance, Chief Executive Dr. Brand van Linder said the bank remains focused on executing the bank's strategy and is well positioned to continue to deliver on its strategic goals and high-quality performance for the remainder of 2024 and beyond.
Other CBD highlights for the first half of the year include an increase in operating income to AED 2.710 billion, up 10.1 percent year-on-year due to net interest, fee and commission income, while operating profit to AED 2.066 billion, up 9.8 percent year-on-year. Receipt.
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Source : news agency wam
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