Abu Dhabi-Mubasher: Abu Dhabi-listed Commercial Bank International (CBI) incurred losses of AED 463.27 million ($126.099 million) in the fourth quarter of 2015, compared to AED 22 million ($6 million) in the corresponding period of 2014, according to a bourse filing on Thursday.
In the fiscal year 2015, losses jumped to AED 466.56 million ($127 million) from AED 122 million ($33.020 million) in the fiscal year 2014.
Net operating revenues declined to AED 819.669 million in FY15, compared to AED 820.160 million in FY14.
Loans and credit facilities decreased to AED 11.51 billion in FY15 from AED 13.34 billion in FY14.
During the meeting held on 11 February, the board decided to hold the shareholders’ meeting on 17 April, as well as deferring decisions concerning capital increase and amendments to Articles of Agreement (AoA) of the bank till obtaining Central Bank approvals for the same.
