Dubai: Commercial Bank of Dubai (CBD) today reported its financial results for the first nine months of 2023.

Commercial Bank of Dubai has delivered a record net profit of AED 1,936 million for the first nine months of 2023, up 46.4% compared to the corresponding period in 2022. Outstanding revenue contribution across Net Interest and Other Operating Income, backed by strong loan growth generated a significant rise in net profit. Notably, market interest rates remained high, which contributed to the financial uplift. The UAE economic outlook and business confidence is strong, supported by resilient domestic activity that should enable economic growth through 2024.

Read the full report here.

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About CBD

The bank was incorporated in Dubai, United Arab Emirates in 1969 and is registered as a Public Joint Stock Company (PJSC).

The bank is listed on the Dubai Financial Market and is majority owned by UAE Nationals, including 20% by the Investment Corporation of Dubai (ICD). The bank employs over 1,100 staff and offers a wide range of conventional and Islamic banking products and services to its institutional, corporate and personal banking customers through a network of 14 branches. Moreover, the bank has invested in an extensive network of 167 ATMs/CDMs.

For further information, kindly contact: CBD Investor Relations @ investor.relations@cbd.ae