Dubai, United Arab Emirates: Commercial Bank International (“CBI” or the “Bank”) announced its financial results for the third quarter of 2023.
The following are the bank’s most prominent financial results:
Net profits increased by 38% from 45 million dirhams in the second quarter to 62 million dirhams for the third quarter of 2023.
Net operating profits increased by 65% from 44 million dirhams for the second quarter to 73 million dirhams for the third quarter of 2023.
Net operating income increased by 20% from 122 million dirhams in the second quarter to 147 million dirhams for the third quarter of 2023.
Commenting on the bank’s results during the third quarter of this year, Mr. Ali Sultan Rakad Al Ameri, CEO of Commercial International Bank, said: At Commercial International Bank, we are proud of our corporate strategy, which relies mainly on providing continuous exceptional customer service to all our customers, which is a basic pillar in everything we do. We do it. Our passion for innovation is part of our identity and makes us constantly look for ways to develop and enhance our solutions in order to push our customers’ service experience to new heights. This commitment enabled us to achieve great results in the third quarter of this year.
We are fully prepared to meet our customers’ growing needs, in parallel with our consistent direction to support the stability and growth of the UAE economy. Our goal is to enable our customers to achieve their ambitions and make a continuous contribution to the economic prosperity of our beloved country.”
#Corporate data
– I finish –
About the International Commercial Bank:
Commercial International Bank, which was established in 1991 in the Emirate of Ras Al Khaimah and whose headquarters are located in Dubai, is considered one of the most prominent banks specialized in providing banking services to companies and individuals, in addition to its growing window for Islamic banking services. It is listed on the Abu Dhabi Securities Exchange (ADX) and holds a credit rating of “BBB+” with a “stable outlook” from Fitch, the international credit rating agency. The bank is subject to the supervision and control of the Central Bank of the United Arab Emirates and the Securities and Commodities Authority.
It should be noted that the majority of the bank’s shares are owned by Emirati shareholders, and the majority of the members of its Board of Directors are UAE citizens.
The bank provides its customers with a comprehensive range of banking products and financial solutions specifically designed to meet the needs of corporate and individual customers, in addition to Islamic banking services, starting from loans and commercial services, through cash management and treasury solutions, to personal bank accounts, credit cards, and real estate financing.
2023-10-26 13:00:10
#Press #release #Commercial #International #Bank #announces #increase #net #profits #million #dirhams #quarter #year
