CBI net profit increases by 44% in H1 2023

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Commercial Bank International (CBI) announced its 2023 half-year financial results. CBI said its net profit increased by 44 per cent year-to-date from Dhs55m in H1 2022 to Dhs79m in H1 2023.

The bank’s net operating income increased year-to-date from Dhs268m in H1 2022 to Dhs270m in H1 2023.

It reported that its loans and advances increased year-to-date from Dhs12bn in H1 2022 to Dhs12.3bn in H1 2023.

CBI’s growing portfolio

Commenting on the Bank’s H1 performance, Ali Sultan Rakkad Al Amri, CEO of Commercial Bank International, said, “At CBI, our foundation rests on the “client first” principle, and it drives everything we do. We take immense pride in consistently providing high-end services that cater to our customers’ needs and exceed their expectations. Innovation is at the heart of our approach as we continuously seek ways to enhance our solutions and elevate the customer experience.”

“As a result of this unwavering commitment, we achieved outstanding success in the first half of 2023, delivering a net profit of AED 79 million. Beyond financial success, our vision extends to support our country’s economy while also empowering our customers to realize their ambitions,” he added.

CBI is a UAE based corporate and retail Bank, with a growing Islamic banking business incorporated in 1991 in the Emirate of Ras Al Khaimah and is headquartered in Dubai.

CBI said it offers a comprehensive portfolio of banking products, as well as tailor-made financial solutions in corporate, Islamic and retail banking, ranging from lending, trade services, cash management and treasury solutions to personal account services and credit cards.