Dubai – Mubasher: The Commercial Bank of Dubai (CBD) recorded 46.40% year-on-year (YoY) higher net profits at AED 1.93 billion in the first nine months (9M) of 2023, compared to AED 1.32 billion.
The UAE lender reported total income worth AED 3.71 billion in the January-September 2023 period, an annual surge of 36.60% from AED 2.71 billion, according to the unaudited financials.
Basic and diluted earnings per share (EPS) increased to AED 0.63 in 9M-23 from AED 0.42 in 9M-22.
Total assets grew by 7.20% to AED 126.02 billion as of 30 September 2023 from AED 117.53 billion a year earlier, while the customer deposits increased by 5.70% to AED 86.44 billion from AED 81.77 billion.
Financial Statements for Q3-23
In the third quarter (Q3) of 2023, the bank's net profits jumped to AED 710.08 million from AED 455.62 million a year earlier.
The total operating income surged to AED 1.25 billion in Q3-23 from AED 985.93 million in Q3-22, while the basic and diluted EPS went up to AED 0.24 from AED 0.15.
On a quarterly basis, the Q3-23 profits increased by 9.20% from the AED 650 million registered in Q2-23, while the operating income rose by 2.50% from AED 1.22 billion.
Bernd van Linder, CEO of CBD, highlighted: “We remain well positioned to deliver on our strategic goals and in achieving exceptional performance outcomes in 2023 and beyond.”
