Commercial bank International’s net profit for the first half of 2018 was AED 81 million

MEDIA IN, Dubai, July 30, 2018 (WAM)
Commercial International Bank (CIB) posted a net profit of AED 81 million for the first half of this year, up 55% to AED 81 million compared to AED 52 million for the same period in 2017. Operating profit grew by AED 194 million, an increase of 6% compared to 183 Million in the first half of 2017 and a decrease in operating expenses by 7% compared to the same period of 2017.
Mohammed Sultan Al Qadi, Chairman of Commercial International Bank, said: “The strong results achieved by the Bank during the first half of this year are tangible evidence of the success of its efforts to consolidate the pillars of the balance sheet as well as implement a strategy that puts customers first.
For his part, In the first half of 2018, the Bank continued to focus on enhancing spending efficiency as well as improving asset quality, resulting in a 7% decrease in operating expenses and a 35% decrease in net provisions compared to the first half of 2017, resulting in increased profitability the bank