Press releases, Reports & Disclosures for Commercial Bank International

The document is a review report and interim financial information for Commercial Bank International P.J.S.C., covering the six-month period ending on June 30, 2024.

Commercial Bank International (CBI) has released its financial results for the first half of 2024. The report includes a detailed management discussion and analysis, providing insights into the bank's financial performance and strategic initiatives during this period.

The document is a review report and interim financial information for Commercial Bank International P.J.S.C. for the six-month period ending on June 30, 2024.

Commercial Bank International (CBI) reported a 14% year-on-year increase in pre-tax net profit for the first half of 2024, rising from AED 78.9 million in H1-2023 to AED 89.9 million in H1-2024. Key financial highlights include a 24.6% increase in customer deposits, growing from AED 11.4 billion to AED 14.2 billion, and a 1.9% rise in loans and advances, from AED 12.3 billion to AED 12.5 billion. The capital adequacy ratio improved to 15.3% as of June 2024. CEO Ali Sultan Rakkad Al Amri attributed the strong performance to strategic initiatives and a customer-centric approach, emphasizing plans to enhance customer experience and support the UAE's economic prosperity in the future.

Resolution No. (436) of 2024 announces a temporary suspension of trading for Commercial Bank International (CBI) shares on the Abu Dhabi Securities Exchange (ADX). This suspension will start at 11:00 on July 25, 2024, coinciding with the CBI Board of Directors meeting, and will last until ADX receives the meeting results. The resolution mandates that all department heads at ADX implement this decision and that the resolution be distributed to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on July 18, 2024.

The document is a review report and interim financial information of Commercial Bank International P.S.C. for the three-month period ending on 31st March 2024.

Commercial Bank International (CBI) has reported a 19% increase in its net profit before tax for Q1 2024, rising from AED 34 million in Q1 2023 to AED 40.4 million. Customer deposits also grew by 2% from AED 12.5 billion in Q1 2023 to AED 12.7 billion in Q1 2024. The bank attributes this growth to its customer-centric business strategy and innovative solutions. CBI, headquartered in Dubai, offers a range of banking products and is regulated by the Central Bank of the UAE and the Securities and Commodities Authority of the UAE.