Commercial Bank of Dubai’s profit rises 18% to $225 million in Q1 as its assets improve
The Commercial Bank of Dubai (CBD) made a net profit of $225.4 million (AED 828 million), which is 18.1% higher than last year. This increase was mainly because the bank’s assets improved and it had fewer losses to cover.
CBD Q1 Results
CBD’s operating income stayed almost the same, going down slightly by 0.1% to $381.2 million (AED 1.4 billion). This was helped by an increase in total loans and balances in current and savings accounts (CASA).
Operating costs went up by 17.5% to $100.7 million (AED 370 million). This rise was due to inflation and CBD’s ongoing investments in technology and business growth, according to their earnings report released on Thursday.
Losses from bad loans (net impairment losses) dropped by 68.3% to $24.8 million (AED 91 million). However, corporate tax costs increased by 18.8% to $22.3 million (AED 82 million).
Total loans reached $27.8 billion (AED 102.1 billion), a 3.9% increase since the end of December 2024. Customer deposits also grew by 10.3% over the year to $27.1 billion (AED 99.6 billion).
By the end of March, CBD’s total assets were $38.4 billion (AED 141.1 billion), up 7.8% from last year. Earnings per share (EPS) increased to $0.08 (AED 0.3), compared to $0.05 (AED 0.2) in the same period last year.
Partnerships and Investments
In March, CBD gave Siemens Energy’s UAE branch a loan of $149.7 million (AED 550 million). This will help Siemens Energy grow and carry out more projects in the region.
Also in March, CBD teamed up with Accenture to start a data and AI training program for all its employees. CBD is the first bank in the UAE to launch such a program across the whole company.
CBD said the training aims to improve customer service and make the bank work more efficiently, especially as the financial industry becomes more digital. The move also supports the UAE’s goal to grow its AI capabilities across different sectors.
Published: 25th April 2025
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