Abu Dhabi: «The Gulf»
“Commercial International Bank” turned towards profitability, with a net amount of 21 million dirhams during the first quarter of this year, compared to losses of 97 million dirhams in the corresponding period of 2021.
The value of Commercial International’s assets increased by 31% to 21 billion dirhams during the first quarter of 2022, compared to 16 billion dirhams during the same period in 2021. The value of customer deposits increased by 28% to 13 billion dirhams, compared to 10 billion dirhams during the first quarter of the year 2021.
The financial statements revealed a decrease in operating expenses by 11% from 79 million dirhams during the first quarter of 2021 to 70 million dirhams during the first quarter of 2022, and the value of net provisions decreased by 93.5% from 137 million dirhams in the first quarter of 2021 to 9 million dirhams for the first quarter of 2022.
