Dubai Commercial Bank (CBD) Is An Emirati Banking And Financial Services Company Headquartered In Deira, Dubai. With Over $23 Billion In Assets, CBD Is Ranked As The 7th Largest Bank In The UAE In Terms Of Total Assets. It Also Appears In The Dubai Financial Marekt Index.
History
CBD Was Established In 1969 By Amiri Decree Issued By The Late Rashid Bin Saeed Al Maktoum. Originally A Joint Venture Between Commerzbank, Chase Manhattan Bank And Kuwait Commercial Bank, It Grew Into A National Public Joint Stock Company By 1982. 80% Of Its Shares Are Held By UAE Nationals, While The Other 20% Is Owned By Dubai Investment Corporation (the Investment Arm Of The Dubai Government).
CBD Provides Wholesale, Corporate, Retail, Commercial, SME, Private And Affluent Banking Services.
FINANCIAL DATA
In 2019, Dubai Commercial Bank Recorded A Net Profit Of 1.40 Billion Dirhams, Up 20.5% From 2018, With Total Assets Of 88.10 Billion Dirhams. Operating Income For 2019 Was AED 3.033 Billion, Up 11.3%, Attributed To A 2.8% Increase In Net Interest Income (NII) And A 31.2% Increase In Other Operating Income (OOI). Fee And Commission Income Increased By 21.3%, Foreign Exchange Income Increased By 37.7%, Investment Income Increased By 179.4% And Other Income Increased By 53.3% Compared To 2018. CBD Is Rated Baa1 And A- By Moody's And Fitch Respectively.
