Commercial Bank of Dubai (CBD) is a UAE banking and financial services corporation headquartered in

Deira Deira ( ; Old Welsh/Cumbric: ''Deywr'' or ''Deifr''; ang, Derenrice or ) was an area of Post-Roman Britain, and a later Anglian kingdom. Etymology The name of the kingdom is of Brythonic origin, and is derived from the Proto-Celtic *''daru' ...

Dubai Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...

. With more than 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 The Dubai Financial Market (DFM) ( ar, سوق دبي المالي) is a stock exchange located in Dubai, United Arab Emirates. It was founded on 26 March 2000. Overview , there are 67 companies listed on DFM. Most of them are UAE-based companie ...

index.

History

CBD was founded in 1969, by an Amiri Decree issued by the late

Rashid Bin Saeed Al Maktoum Sheikh Rashid bin Saeed Al Maktoum ( ar, ٱلـشَّـيْـخ رَاشِـد بِـن سَـعِـيْـد آل مَـكْـتُـوْم, Ash-Shaykh Rāshid bin Sa`īd Āl Maktūm; 11 June 1912 – 7 October 1990) was the vice president ...

. What started out as a joint venture of Commerzbank,

Chase Manhattan Bank JPMorgan Chase Bank, N.A., doing business as Chase Bank or often as Chase, is an American national bank headquartered in New York City, that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and fi ...

and

Commercial Bank of Kuwait The Commercial Bank of Kuwait, (known as ar, التجاري, ''Al Tijari'', commercial) was established on 19 June 1960. It is the second oldest bank of Kuwait, it has major role in retail and commercial financing. References External links

, 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 Investment Corporation of Dubai is a sovereign wealth fund of the Government of Dubai established in 2006, with a mandate to invest funds on behalf of the Government of Dubai, and manage their portfolio of investment companies. At 2022, ICD repo ...

(an investment division of the Dubai Government). CBD provides Wholesale, Corporate, Retail, Business, SME, Private and Affluent banking services.

Financial data

In 2019, Commercial Bank of Dubai reported a net profit of AED 1,400 million, an increase of 20.5% over 2018, 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 A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability to pay back the debt, and an implicit forecast of the likelihood of the debtor defaulting. ...

of Baa1 and A- by Moody & Fitch respectively.

External links

Official Website

References

{{authority control Banks of the United Arab Emirates Government-owned companies of the United Arab Emirates Emirati companies established in 1969 Banks established in 1969