CBI’s net income saw a 18% y-o-y jump in 2024

Commercial Bank International (CBI) reported a net income of AED 201.9 mn for 2024, an 18.3% y-o-y increase, according to the company’s financial statements (pdf). Total revenues rose 29.4% y-o-y to AED 703.2 mn, driven by higher business volumes and the resolution of legacy issues, according to its earnings release (pdf). The lender attributed its “strong financial performance” to implementing new regulatory requirements for credit risk management, alongside improved cost efficiencies and effective balance sheet management.

The lender’s net interest income and income from Islamic financing and investing assets declined by 3.2% y-o-y to AED 344 mn during the same period.