Dubai – Mubasher: The net profits of the Commercial Bank of Dubai (CBD) increased by 29.5% to AED 1.45 billion in 2021, compared to AED 1.12 billion in 2020, according to the bank's consolidated financials for the year ended 31 December 2021.
The bank's net interest income and net income from Islamic financing amounted to AED 2.08 billion last year, up from AED 1.89 billion in 2020.
Meanwhile, the bank's assets jumped by 17.3% to AED 114.2 billion as of 31 December 2021, compared to AED 97.4 billion as of 31 December 2020.
The basic and diluted earnings per share (EPS) settled at AED 0.47 in 2021, against AED 0.4 in the previous year.
The board has recommended a cash dividend distribution of 25.88%.
Commenting on this year's performance, the bank's CEO, Bernd van Linder, said: "We remain positive looking ahead to 2022, delivering the most innovative products for all our customers and continue setting the standard in digital banking experience."
It is noteworthy to mention that during the first half (H1) of 2021, CBD reported a 27.5% rise in net profits to AED 676.055 million, compared to AED 530.431 million in the year-ago period.
