Media ININ Economy We Trust
22-02-2019 Media in\ Dubai
Commercial Bank of Dubai (CBD) reported a net profit of AED 1.16 billion, up 16% from the previous year.
Total revenue was more than AED 2.7 billion and net interest income increased by 5 per cent to AED 1.91 billion and 7.2 per cent in operating profit. Operating expenses were AED 858 million, down 4.7 per cent. Hameed Mohammed Al Qatami, Commercial Bank of Dubai (CBB) said these figures show that the bank posted strong results in 2018.
The distribution of 20.7% of the bank’s capital was announced as cash dividends to shareholders after approval by its Board of Directors at the Annual General Meeting held yesterday at the Bank’s headquarters in Dubai.
During the Annual General Meeting, the financial results for the year ended 31 December 2018 were reviewed. The Board of Directors approved the Bank’s strategic plan and auditors’ report in addition to the balance sheet and profit and loss account. The Council also approved the renewal of the Euro-Med Medium Term Bonds Program with a nominal nominal value of US $ 3 billion.
