Commercial Bank of Dubai

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 (an investment division of the Dubai Government).[6][7][8]

Over the decades, CBD has transformed into a progressive and modern banking institution catering to all customer segments including Wholesale, Corporate, Retail, Business, SME, Private and Affluent through conventional and Sharia compliant products and services.

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 (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 of Baa1 and A- by Moody & Fitch respectively.[9]

CBD was awarded the Dubai Corporate Social Responsibility Excellence Award 2019 in recognition of its corporate social responsibility efforts. In 2019, in line with the initiative of the Year of Tolerance, CBD supported many different charitable organizations across the UAE in the areas of health, education, arts, culture and community well-being through donations and sponsorships. CBD launched a charity initiative, in which it provided 4,000 Iftar meals to workers at construction sites on Zayed Humanitarian Day. CBD volunteers took part in several activities including the Special Olympics World Games, as well as the “Their Suhoor is on us” event, organized by the Community Development Authority; “Ramadan Aman 8”, organized by Al Ihsan Charity in Dubai and the “Back to School 2019” event in affiliation the UAE Red Crescent. CBD Al Islami also continued to engage in CSR activities to support local charity institutions through donations and sponsoring of their activities and programs.

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