Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Commercial Bank of Dubai Third-Quarter Net Income Drops 1.5%

Don't Miss Out —
Follow us on:

Oct. 16 (Bloomberg) -- Commercial Bank of Dubai PSC, the lender 20 percent-owned by Dubai’s government, reported a 1.5 percent decline in third-quarter profit.

Net income fell to 253.8 million dirhams ($69 million) from 257.7 million dirhams a year earlier, according to Bloomberg calculations based on nine-month results provided by the bank today.

Nine-month profit rose 1 percent to 777 million dirhams, Commercial Bank of Dubai said. The lender set aside 227 million dirhams for the period to cover losses from bad loans, it said.

To contact the reporters on this story: Arif Sharif in Dubai at asharif2@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net