Commercial Bank of Dubai (CBD) reports First Half 2020 net profit of AED 530m and operating profit of AED 1,026m

by Newsfeed

Dubai, 26th July 2020:Commercial Bank of Dubai (CBD) today reported its financial results for the first six months of 2020.  

Noteworthy Financial Commentary:                                                                                         

2020 H1 results:

  • Net profit was AED 530 million, 24.3% below the prior comparative period
  • Operating income was AED 1,412 million, down by 6.5% compared to the prior comparative period due to sharply lower interest rates
  • Operating expenses were AED 386 million lower by 9.9%
  • Operating profit was AED 1,026 million, down by 5.2%
  • Net impairment allowances were AED 495 million, up 30.1% attributable to specific credit provisions together with forecast expected credit losses associated with the…

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