Commercial Bank International, or CBI, continued to record strong growth in profitability, reporting an increase in net profit to Dh250.6 million for the year ended December 31, 2012, a 286.9 per cent increase from the previous year.
Loans and advances increased to Dh8.7 billion compared to Dh7.8 billion at the end of December 2011. Total assets of the bank increased to Dh12.7 billion compared to Dh11.4 billion at the end of December 2011. Customer deposits increased to Dh8.4 billion, up 5.4 per cent from the previous year.
“With the future in focus, the board of directors continues to have great trust in senior management to take bold, yet balanced steps in its future course of action. In recording consistently positive results, we continue to deliver value to shareholders, with earnings per share increasing by an impressive 278 per cent since December 2011,” said Mohammed Sultan Al Qadi, chairman of CBI’s board of directors.
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