The Commercial Bank of Dubai (CBD) logged net profits after tax worth AED 3.02 billion in 2024, marking an annual increase of 14.30% from AED 2.65 billion.

Total operating income jumped by 11.20% year-on-year (YoY) to AED 5.49 billion as of 31 December 2024 period from AED 4.93 billion, according to the consolidated interim financial results.

Basic and diluted earnings per share (EPS) hit AED 0.97 last year, higher than AED 0.84 in 2023.

The total assets rose by 8.70% YoY to AED 140.17 billion at the end of 2024 from AED 128.98 billion, while the customers' deposits grew by 10.50% YoY to AED 97.56 billion from AED 88.28 billion.

Quarterly Results

In the fourth quarter (Q4) of 2024, CBD generated net profits valued at AED 799 million, while total income hit AED 1.32 billion.

The profits registered in Q4-24 climbed by 2.60% from AED 779 million in Q3-24, while the total income dropped by 8.80% from AED 1.45 billion.

Bernd van Linder, the CEO of CBD, said: “Our net profit for 2024 was above AED 3 billion for the first time, with net profit before tax of AED 3.32 billion up 25.50% for the year, attributable to strong customer activity and overall business performance.”

“The bank remains focused on the high-quality implementation of its strategy and is very well placed to continue to achieve our strategic objectives and financial performance in 2025 and beyond,” he added.

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