Commercial Bank of Dubai


Commercial Bank of Dubai 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.
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 and a 31.2% increase in Other Operating Income. 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.