Tuesday 9 November 2010

Commercial Bank of Dubai sees higher full-year profit - Arab News

Commercial Bank of Dubai will post an increase in full-year net profit, as the lender focuses on family-owned businesses in the UAE and growing its Islamic finance business, the firm’s chief executive said on Monday.

“Full-year profit will probably a bit better than last year,” Peter Baltussen told Reuters on the sidelines of a business conference.

Baltussen said wants to increase its Islamic finance operations - currently just above 10 percent of the bank’s deposits are in held in its Islamic finance business, a number the bank wants to increase to 30 percent after five years.

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