Dubai, UAE: Commercial Bank International (‘CBI’ or ‘the Bank’) announced its Q4 2019 and full year (FY) 2019 financial results.

Q4 2019 and FY 2019 and Financial Results Highlights:

  • Quarterly net profit up 22% from AED 31 million in Q3 2019 to AED 38 million in Q4 2019. Annual net profit of AED 111 million delivered in 2019.
  • Quarterly net operating income up 4% from AED 196 million in Q3 2019 to AED 203 million in Q4 2019. Annual net operating income of AED 779 million delivered in 2019.
  • Annual expenses down 8% from AED 409 million in 2018 to AED 376 million in 2019.
  • Capital adequacy increased to 15.4%, up from 14.0% previous year.

Commenting on the Bank’s performance, Mohammad Sultan Al Qadi, Chairman of CBI, said: “2019 was a challenging year for the banking industry, due to the challenges in the global economy and markets. Despite the headwinds, CBI maintained its solid performance and achieved further progress in implementing its transformation program. With our customer-centric strategy, we are optimistic about the growth prospects offered by the development of the UAE economy in 2020 and beyond, for our customers, shareholders and people”. 

Ali Sultan Rakkad Al Amri, the Acting CEO of CBI, added: “We have delivered a steady performance in 2019, driven primarily by wholesale loans and advances, which grew by AED 146 million. Our expenses reduced by 8% compared to the previous year and our operating profit reached AED 403 million, thanks to our continued discipline on robust cost control, automation and streamlining. With our strong capital and liquidity, CBI is very well positioned to support the growth of the UAE economy and help our customers realise their ambitions in 2020”.

Financial Summary

CBI recorded a stable performance in 2019, as a result of heightened focus on customer experience and relationship focused strategy delivering steady growth, cost optimisation and improved asset quality.  

CBI’s annual expenses were down 8% from AED 409 million in 2018 to AED 376 million in 2019.

CBI’s quarterly net profit was up by 22% from AED 31 million in Q3 2019 to AED 38 million in Q4 2019, mainly driven by a 4% growth in net operating income from AED 196 million in Q3 2019 to AED 203 million in Q4 2019.

CBI’s capital adequacy ratio increased to 15.4%.


About Commercial Bank International (CBI) 

CBI is a UAE based corporate and retail bank, with a growing Islamic banking business.

The Bank was incorporated in 1991 in the Emirate of Ras Al Khaimah and is headquartered in Dubai. 

CBI shares are listed on the Abu Dhabi Securities Exchange (ADX) and the Bank has a long-term issuer default rating of BBB+ and a short-term issuer default rating of F2 from Fitch Ratings. CBI is regulated by the Central Bank of the UAE and the Securities and Commodities Authority of the UAE (SCA).

CBI is majority owned by UAE shareholders and Board members are majority UAE nationals, led by our Chairman, Mohammad Sultan Al Qadi.

CBI 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.

For further information, please contact:
Toufik Osman 

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