Commercial Bank Dubai posts $223m profit
Dubai, January 25, 2012
Commercial Bank of Dubai said its net profit for the full-year in 2011 rose slightly to Dh822 million ($223.80 million) compared to Dh820 million the previous year driven mainly by a drop in funding costs.
The total assets at the end of December 2011 were Dh38.2 billion, while loans and advances amounted to Dh26.8 billion. Customer deposits stood at Dh28.4 billion, the bank said in a statement.
The bank said it took total provisions of Dh512 million dirhams in 2011 to cover for possible band loans.-Reuters