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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

CBD H1 2023 net profit $133m

CBD CEO Bernd van Linder said, "CBD's excellent returns and strong revenue growth led to a record net profit for H1 2023." (WAM)
  • This remarkable growth in net profit is attributed to outstanding revenue contribution across net interest and other operating income.
  • The economic outlook for the UAE and business confidence continue to be encouraging, powered by buoyant domestic activity.

DUBAI, UAE – Commercial Bank of Dubai (CBD) announced its financial results for H1 2023.  A net profit of US$133 million (AED 1.225 billion) marks an impressive 41.5 percent increase compared to the same period in 2022.

This remarkable growth in net profit is attributed to outstanding revenue contribution across net interest and other operating income, robust loan growth and increasing market interest rates.

The economic outlook for the UAE and business confidence continue to be encouraging, powered by buoyant domestic activity projected to sustain economic growth for the remainder of the year.

Dr. Bernd van Linder, Chief Executive Officer of CBD, said, “CBD’s excellent returns and strong revenue growth led to a record net profit for the first half of 2023.”

“We managed costs and impairments well and are well-positioned to achieve our long-term goals and deliver superior performance outcomes in 2023 and beyond.”

As part of its strategy, CBD will continue to provide customers with a high-quality, seamless banking experience through the development of innovative banking solutions.

CBD actively supports the UAE’s digital transformation programs, including the CBUAE FIT program.

In Q2, CBD issued its inaugural green bond, raising US$500 million, marking a significant milestone in its ESG program and demonstrating its commitment to sustainable finance during the UAE Year of Sustainability.