Dubai-Mubasher: Commercial Bank of Dubai (CBD) posted a decline of 18.3% in its first-quarter profits, according to a bourse statement.
Profits reached AED 241 million ($65.6 million) in the first quarter of 2016, compared to AED 295 million ($80.3 million) in the same quarter of 2015.
Operating income reached AED 576 million ($156.82 million) in Q1-16, a decrease of 0.86% from AED 581 million ($158.18 million) in Q1-15.
Loans and advances rose 16.2% to AED 38.8 billion ($10.56 billion) during the period, compared to AED 33.4 billion ($9.09 billion).
Total assets amounted to AED 59.2 billion ($16.12 billion) in Q1-16, up 21.6% from AED 48.7 billion ($13.26 billion) in Q1-15.
Customers’ deposits grew 18.4% to AED 41.1 billion ($11.19 billion) in Q1-16, compared to AED 34.7 billion ($9.45 billion) in Q1-15.
