Abu Dhabi – Mubasher: Commercial Bank International (CBI) generated net profits amounting to AED 170.64 million in 2023, an annual rise of 14% from AED 150.47 million.
Total assets reached AED 18.97 billion as of 31 December 2023, down year-on-year (YoY) from AED 21.16 billion, according to the consolidated financial results.
Net operating income plummeted to AED 543.54 million last year from AED 602.80 million in 2022, while the basic and diluted earnings per share (EPS) increased to AED 0.08 from AED 0.06.
Ali Sultan Rakkad Al Amri, CEO of CBI, said: “By strongly focusing on our client relationships, whilst simultaneously pursuing innovative ways of working, we have been able to deliver solid results in 2023.
“Our goal to empower our customers to realise their ambitions remains steadfast, as does our dedication to supporting further growth of the UAE economy,” Al Amri indicated.
In July-September 2023, the ADX-listed lender recorded 38% higher net profits at AED 62 million, compared to AED 45 million during the same period in 2022.
