A Review on Commercial Bank of Dubai
Commercial Bank of Dubai
Commercial Bank of Dubai (CBD) is a UAE banking and financial services corporation headquartered in Deira, Dubai. With more than $23 billion in assets, Gulf Business listed CBD as the 7th largest bank in the UAE, based on total assets. It also figures in the Dubai Financial Market index.
History:
CBD was founded in 1969, by an Amiri Decree issued by the late Rashid Bin Saeed Al Maktoum. What started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait, evolved into a National Public shareholding company by 1982. 80% of its shares are held by UAE nationals, while the other 20% are owned by Investment Corporation of Dubai (an investment division of the Dubai Government).
CBD provides Wholesale, Corporate, Retail, Business, SME, Private and Affluent banking services.
Financial data:
Commercial Bank of Dubai reported a strong set of results for 2019 with net profit up by 20.5% to AED 1,400 million and total assets of AED 88.1 billion. Operating income for 2019 amounted to AED 3,033 million, an increase of 11.3% attributable to a 2.8% increase in Net Interest Income (NII) and a 31.2% increase in Other Operating Income (OOI). Fees and commission income increased by 21.3%, foreign exchange income registered a 37.7% increase, investment income increased by 179.4%, and other income increased by 53.3% compared to 2018. CBD has a credit rating of Baa1 and A- by Moody & Fitch respectively.
Quick and convenient access to your accounts and much more:
With CBD Online Banking, you can make payments and stay updated on your account activities, inquire about your banking details and much more – all within a completely safe environment.
On login, you are presented with a fresh, new look and feel, with improved navigation features. It’s a powerful update with enhanced security and authentication features.