CBI Profit Increases by 19% to AED 40.4 Million

Dubai, UAE, 2nd May 2024: Commercial Bank International (CBI or “the Bank”) has announced its financial results for the first quarter of 2024. 

Key financial result highlights:

•    Net profit before tax increased by 19% from AED 34 million in Q1 2023 to AED 40.4 million in Q1 2024.
•    Customer deposits including current, and savings accounts (CASA) grew by 2% from AED 12.5 billion in Q1 2023 to AED 12.7 billion in Q1 2024. 

Commenting on the Bank’s Q1 2024 performance, Ali Sultan Rakkad Al Amri, CEO of Commercial Bank International, said: “Our customer-centric business strategy and corporate culture have led to an increase in our year-on-year profitability in the first quarter. We pride ourselves on staying attuned to our customers’ changing needs and employing innovative solutions to continuously enhance our services. By leveraging innovation, we strive to provide outstanding customer experience whilst driving robust business growth. Moving forward, we remain fully committed to contributing to further growth of the UAE economy and proudly, supporting our clients’ aspirations.”