#Dubai’s CBD reports 20.5% profit increase on higher revenue - The National

Dubai’s CBD reports 20.5% profit increase on higher revenue - The National:

Commercial Bank of Dubai reported a 20.5 per cent increase in its full-year net profit due to higher revenue.

The net profit for the period ending December 31, 2019 climbed to Dh1.4 billion, the lender said in a statement on Wednesday. Revenue rose 11.3 per cent year-on-year to Dh3.03bn.

Net interest income and Islamic financing income rose 2.8 per cent to Dh1.96bn and other operating income jumped 31.2 per cent to Dh1.06bn.

“CBD has delivered an excellent performance in 2019, achieving the bank’s best ever full year results,” Bernd van Linder, its chief executive, said.