Commercial Bank International (CBI) announced on Thursday net profit before tax increased by 19 per cent from Dh34 million in Q1 2023 to Dh40.4 million in Q1 2024.
Customer deposits including current, and savings accounts (CASA) grew by 2 per cent from Dh12.5 billion in Q1 2023 to Dh12.7 billion in Q1 2024.
Commenting on the Bank’s Q1 2024 performance, Ali Sultan Rakkad Al Amri, CEO of Commercial Bank International, said: “Our customer-centric business strategy and corporate culture have led to an increase in our year-on-year profitability in the first quarter. We pride ourselves on staying attuned to our customers’ changing needs and employing innovative solutions to continuously enhance our services. By leveraging innovation, we strive to provide outstanding customer experience whilst driving robust business growth. Moving forward, we remain fully committed to contributing to further growth of the UAE economy and proudly, supporting our clients’ aspirations.”