Dubai – Mubasher: Commercial Bank of Dubai (CBD) posted a 33.5% year-on-year decline in its profits in the first quarter of 2017, according to a bourse statement.
Profits reached AED 160.15 million ($43.59 million) in Q1-17, compared to AED 240.8 million in Q1-16.
Impairment losses rose 78.5% to AED 256.74 million in Q1-17, compared to AED 143.84 million in Q1-16.
The company’s profits declined 6.5% year-on-year to AED 1.07 billion in the fiscal year 2016.
