Abu Dhabi –  Commercial Bank International (CBI) achieved a pre-tax profit of AED 222.70 million as of 31 December 2024, reflecting a 30% year-on-year (YoY) growth, according to a press release.

Total revenues surged by 29% YoY to AED 703 million, backed by increased business volumes, and gains from resolving key legacy issues.

Basic and diluted earnings per share (EPS) rose to AED 0.10 last year from AED 0.09 in 2023.

CBI’s total assets grew by 10% to AED 20.90 billion in 2024, while customer deposits increased by 22% YoY, enhancing liquidity and improving the loan-to-deposit ratio to 89%.

Ali Sultan Rakkad Al Amri, CEO of CBI, said: “By expanding our assets and revenues, optimising operations, and embracing digital transformation, we have established a solid foundation for sustainable growth.”

“2024 has been a pivotal year for CBI, marked by the resolution of long-standing legacy issues and significant improvements in asset quality. Our enhanced capital position provides a strong platform for future growth,” Al Amri continued.

He concluded: “As we move forward, we remain dedicated to sustaining this strong momentum by investing in cutting-edge technology, enriching our product offerings, and fostering a culture of continuous improvement with our clients at the heart of every decision we make.”

As of 30 September 2024, the lender’s net operating income reached AED 278.50 million.

All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).