19 th January 2023: Commercial Bank International (‘CBI’ or ‘the Bank’) has announced its full year 2022 financial results.
Key financial result highlights:
• Annual net profit increased by 15%, from AED 131 million in 2021 to AED 150 million in 2022.
• Quarterly net profit increased by 11% from AED 45 million in Q3 2022 to AED 50 million in Q4 2022.
• Loans and advances increased from AED 11.8 billion in 2021 to AED 12.9 billion as of 31 December 2022, representing a year-on-year growth of 9%.
Commenting on the Bank’s 2022 performance, Ali Sultan Rakkad Al Amri, CEO of Commercial Bank International, said: “Thanks to our continuous focus on being a client-centric bank with our dedicated colleagues relentlessly delivering highest quality services to our customers, our businesses have grown solidly and sustainably in 2022. Understanding the rapidly changing needs of our customers well and using innovative ideas to serve them better through creative, timely and results oriented solutions remain our top priorities. We will continue to firmly support the UAE economy’s strong growth and help our clients realize their aspirations and dreams in the new year.”