CBI posts 4 percent net profit increase in Q3
Date
11/6/2017 2:55:47 AM
(MENAFN) A net profit of Dh33 million posted by UAE-based Commercial Bank International (CBI) for the third quarter of the year, marking a 4 percent increase against Q3 2016.
Exactly a year ago, CBI's net profit totaled Dh86 million, while net interest income increased by 13 percent to Dh145 million from Dh128 million in Q3 of 2016 and increased 5 percent on Q2 of 2017.
Chairman of CBI, Mohammad Sultan Al Qadi, said, "CBI continues to grow in a near flat market. The 10 percent year-on-year increase in customer deposits demonstrates our commitment to building long-term relationships with our customers to better meet their financial needs. Additionally, the strong growth in net interest income and FX income has helped to deliver our positive results".
"I am confident in CBI's strategy to continue growing core business segments and focus on the UAE's leading companies", he added.
MENAFN0611201700450000ID1096044076
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.