Abu Dhabi – Mubasher: Commercial Bank International (CBI) has logged net profits attributable to the owners worth AED 56.28 million in the first half (H1) of 2022, against net losses of AED 68.23 million in H1-21.
Basic and diluted earnings per share (EPS) settled at AED 0.032 in H1-22, versus a loss per share of AED 0.039 in H1-21, according to a bourse filing on Thursday.
The bank’s net interest income and income from Islamic financing and investing assets surged to AED 213.74 million in H1-22 from AED 183.66 million in H1-21.
Furthermore, the net operating income went up to AED 268.39 million in the first six months (6M) of 2022, compared to AED 261.97 million in the same period a year earlier.
During the second quarter (Q2) of 2022, the net profits attributable to the owners jumped to AED 35.04 million from AED 27.91 million in Q2-21.
The basic and diluted EPS rose to AED 0.020 in Q2-22 from AED 0.016 in the year-ago period.
Additionally, the net interest income and income from Islamic financing and investing assets reached AED 128.11 million in Q2-22, a leap from AED 93.21 million in Q2-21.
The UAE-based lender recorded net operating income worth AED 157.62 million in Q2-22, higher than AED 132.93 million in Q2-21.
Ali Sultan Rakkad Al Amri, CEO of CBI, said: “By further strengthening our core client-centric business model, we have increased our profitability substantially in the second quarter, delivering a net profit of AED 34 million, mainly through loan growth.”
During the January-March 2022 period, CBI turned to net profits attributable to the owners worth AED 21.23 million, compared to net losses of AED 96.14 million in Q1-21.
