Commercial Bank International (CBI) announced its financial results for the year ended 31st December 2024, reporting an impressive performance driven by its transformation journey and unwavering focus on innovation and customer experience.
The Bank achieved a pre-tax profit of AED222.7 million, reflecting a significant 30% year-on-year (YoY) growth and marking a historic milestone. Total revenues surged by 29% YoY to AED703 million, fuelled by increased business volumes, and gains from resolving key legacy issues.
CBI’s total assets grew by 10% to AED20.9 billion compared to the prior year, while customer deposits increased impressively by 22% YoY, enhancing liquidity and improving the loan-to-deposit ratio to 89%. Additionally, the Bank’s capital adequacy ratio improved to 17.7%, underscoring its strong financial resilience and capacity to support future growth.
News Source: Emirates News Agency
