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The total loans portfolio registered a significant 11.6 per cent increase from December 31, 2022, reaching Dh88.9 billion.
The bank has reported that a notable increase in net profit was attributed to exceptional revenue contributions from both net interest and other operating income bolstered by substantial loan growth. Higher market interest rates also influenced the uptick in revenue.
The positive outlook for UAE business activity and confidence is also sustained by robust domestic non-oil business activity.
Commenting on the bank’s performance, Dr Bernd van Linder, Chief Executive Officer, said, “CBD has accomplished an outstanding result attributable to excellent revenue growth and improved broad-based business performance.”
He added, “Overall, our net profit was Dh2.65…
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