CBD 9-month profit up 15pc to Dh200m

ABU DHABI -The unaudited net profit of the Commercial Bank of Dubai (CBD) at the end of the third quarter of this year stood at Dh200 million, up 15.5 per cent from Dh172 million for the corresponding period last year.

By A Staff Reporter

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Published: Sun 26 Oct 2003, 12:02 PM

Last updated: Wed 1 Apr 2015, 9:45 PM

Earning per share was placed at Dh5.4 at the end of September compared to Dh5.1 for the period in comparison.

The total assets grew eight per cent to reach Dh7.49 billion. Customer deposits increased 7.6 per cent to reach Dh5.53 billion.

Loans and advances increased 11.3 per cent to Dh5.34 billion while investments rose by 54.4 per cent as a result of purchase of profitable financial instruments. Net profit to shareholders equity moved up from 18.7 per cent to 20 per cent. Return on assets scaled up to 3.5 per cent from 3.2 per cent, while capital adequacy stood at 19.37 per cent.

The third quarter saw the bank unveiling its new-look corporate identity to reflect is image built on a history of banking and financial services. The new logo symbolises CBD 35-year role in contributing to the development of the country, even as the bank is set to move to the new head office and main branch in Deira Dubai, before the end of this year, said a statement issued by Omer Abdel Rahim Leyas, chief executive of CBD.

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