Abu Dhabi – Mubasher: Commercial Bank International (CBI) shifted to net profits attributable to the shareholders worth AED 67.20 million in the first nine months (9M) of 2022, versus losses of AED 42.97 million in 9M-21.
In January-September 2022, the net operating income amounted to AED 457.01 million, higher than AED 419.88 million in the year-ago period, according to the financial results.
The total assets declined to AED 20.62 billion in 9M-22, compared to AED 20.77 billion as of 31 December 2021, according to the financial results.
The basic and diluted earnings per share (EPS) settled at AED 0.039 in 9M-22, against a loss per share of AED 0.025 during the same period a year earlier.
During the third quarter (Q3) of 2022, the net profits attributable to the owners of CBI shrank to AED 10.92 million, compared to AED 25.25 million in the year-ago period.
Meanwhile, the basic and diluted EPS plummeted to AED 0.006 in Q3-22 from AED 0.015 in Q3-21, whereas the net operating income jumped to AED 188.61 million from AED 157.90 million.
Ali Sultan Rakkad Al Amri, CEO of CBI, said: “Having been at the forefront of innovation with a number of key strategic initiatives, and further strengthening our core client-centric business model, we delivered a quarterly net profit of AED 45 million, mainly through substantial loan growth.”
In the first half (H1) of 2022, the ADX-listed bank turned profitable at AED 56.28 million, compared to net losses of AED 68.23 million in H1-21.
