Mubasher: The financial statements of the Commercial Bank of Dubai (CBD) showed a 93% surge in profits during the fourth quarter of 2016 when compared to the same period a year ago.
Earnings jumped to AED 298.52 million ($81.25 million) in Q4-16 from AED 154.66 million ($42.1 million) in Q4-15, according to a bourse filing issued on Monday.
CBD’s net profit during the fiscal year of 2016 shrank by 6.5% to AED 1 billion from AED 1.07 billion in the previous fiscal year.
Net provision increased to AED 1.59 billion in FY16 from AED 1.49 billion in FY15.
