By: Amr Adel
Dubai – Mubasher: Commercial Bank of Dubai (CBD) has no plan to issue any bonds at the current moment, CEO Bernd van Linder told Mubasher.
The bank has a “comfortable” liquidity positions, and no intention to issue any new sukuk or bonds, he added on the sidelines of a roundtable meeting with the media.
The bank’s shareholders gave a green light to issue bonds, yet “it is not the right time”, according to van Linder who was appointed as the bank’s CEO last March.
CBD targets to expand their business in Abu Dhabi through widening its customer base without increasing its current five branches.
The bank targets to provide new services and products through its digital channels like internet or mobile phone, or even in branches, in addition to an attempt to launch new digital initiative in the retail and commercial banking services sectors.
CBD does not need any mergers with other banks despite its importance for the sector, CEO noted.
The growth of banking assets is likely to stand at 2-5% in, he said.
The bank is expected to see a better performance in 2017 better than 2016, and achieve growth rates higher than the average.
The UAE banking sector’s liquidity and capital are considered good, with provisions improved on an annual basis.
Current interest rates are “encouraging” to achieve economic growth, he said, adding that banks’ lending may see a slowdown in the current period.
Translated by: Julian Nabil
