DUBAI, UAE: Commercial Bank of Dubai, one of the leading banks in the UAE, announced that the bank is allowing foreign investment into its shares. The bank has set a Foreign Ownership Limit (FOL) of 40% after completion of all regulatory formalities following the shareholders’ approval obtained during the Annual General Assembly Meeting of 11…
Tag: Commercial Bank of Dubai
Commercial Bank of Dubai posts 20.5% growth in net profit
DUBAI: The Commercial Bank of Dubai (CBD) has reported 20.5% increase in net profit to AED 1.4 billion for the 2019 full year. The result was delivered on the back of broad based business improvements aligned with the bank’s strategy. Impairment allowances increased by 6.2% as the bank prudently increased provisions for non-performing loans. Operating…