Commercial Bank of Dubai
said on Wednesday that its 2011 full-year net profit
rose slightly driven mainly by a drop in funding costs.
The lender reported a net profit of 822 million dirhams
($223.80 million)for the year, compared with a net profit of 820
million dirhams in 2010, it said in an e-mailed statement.
Total assets at the end of Dec 2011 were 38.2 billion
dirhams, while loans and advances amounted to 26.8 billion
dirhams. Customer deposits stood at 28.4 billion dirhams, the
statement added.
The bank said it took total provisions of 512 million
dirhams in 2011 to cover for possible band loans.
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