Fri 29-07-2022 13:07 PM
DUBAI, 29th July, 2022 (WAM) — Commercial Bank International (CBI) has announced its second quarter 2022 financial results, with net profit increasing by 67% from AED20.6 million in Q1 2022 to AED34.4 million in Q2 2022.
The operating profit increased by 82% from AED40.3 million to AED73.2 million, a bank statement said.
Net operating income increased by 42%, from AED110.8 million to AED157.6 million.
Commenting on the Bank’s Q2 performance, Ali Sultan Rakkad Al Amri, CEO of CBI, said, “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. By further strengthening our core client-centric business model, we have increased our profitability substantially in the second quarter, delivering a net profit of AED34 million, mainly through loan growth.”
WAM/Rola Alghoul/Esraa Ismail