Dubai – Mubasher: The Commercial Bank of Dubai’s (CBD) profits fell 22.2% in the second quarter of 2016 to AED 245 million ($66.69 million) compared to AED 314.8 million ($85.69 million) in Q2-15, according to a bourse filing.
The bank’s profits were down 20.3% in H1-16 to reach AED 485.8 million from AED 609.8 million a year earlier.
On the other hand, operating revenues edged up 3% during the six-month period of 2016 to AED 1.194 billion from AED 1.183 billion in the same period of the previous year, due to the rise of the interest income.
Loss provision also increased to AED 288.7 million in H1-16 compared to AED 154.4 million last year.
CBD’s net profits were down 18.3% in Q1-16 to reach AED 241 million.
