CBD reports record net profit of AED 2,650mln

CBD reports record net profit of AED 2,650mln

Dubai: Commercial Bank of Dubai (CBD) today reported its financial results for the year ended 31 December 2023. Commercial Bank of Dubai has delivered a record net profit of AED 2,650 million for the year ended 31 December 2023, up 45.2% year-on-year. Outstanding revenue contribution across Net Interest and Other Operating Income, backed by strong loan growth generated a significant rise in net profit. Notably, higher market interest rates contributed to the increase in revenue. UAE business activity and business confidence remains positive, supported by strong domestic non-oil business activity, anticipated robust performance across all key economic sectors and further growth in the number of people and businesses migrating to the country. Read the full report here. -Ends-     CBD reports record net profit of AED 2,650mln