CBD’s net profits exceed AED 2.2bn in 9M-24 - Mubasher Info

CBD
CBD 2.64% 7.00 0.18

Dubai – Mubasher: The Commercial Bank of Dubai (CBD) logged net profits valued at AED 2.23 billion in the first nine months (9M) of 2024, an annual increase from AED 1.93 billion.

Total operating income hiked by 12.10% to AED 4.16 billion in the January-September 2024 period from AED 3.71 billion, according to the consolidated interim financial results.

Basic and diluted earnings per share (EPS) hit AED 0.73 in 9M-24, up year-on-year (YoY) from AED 0.63.

The total assets jumped to AED 140.21 billion as of 30 September 2024 from AED 128.98 billion at the end of 2023, while the customers deposits hiked to AED 98.68 billion from AED 88.28 billion.

Financial Statements for Q3-24

In the third quarter (Q3) of 2024, the net profits of CBD stood at AED 778.79 million, marking a rise from AED 710.08 million in the three-month period that ended on 30 September 2023.

The total operating income widened to AED 1.45 billion in Q3-24 from AED 1.25 billion in Q3-23, while the basic and diluted EPS went up to AED 0.26 from AED 0.24.

Bernd van Linder, CEO of CBD, said: “Our net profit after tax for 9M-24 was a record AED 2.23 billion, above the prior comparative period by 26.5% on a pre-tax basis, attributable to strong customer activity and overall business performance.”

During the first six months (6M) of 2024, the DFM-listed lender posted 18.50% YoY higher net profits after tax at AED 1.45 billion, compared to AED 1.22 billion.

Source: Mubasher Source: {{details.article.source}}