Commercial Bank International (CBI) has reported a 19% increase in net profit before tax in the first quarter of 2024 compared to the same period in 2023. The bank’s profit rose from Dh34 million to Dh40.4 million, driven by growth in customer deposits, including current and savings accounts (CASA), which increased by 2% to Dh12.7 billion. Ali Sultan Rakkad Al Amri, CEO of Commercial Bank International, attributed this positive performance to the bank’s customer-centric business strategy and corporate culture.
Ali Sultan Rakkad Al Amri emphasized the importance of staying attuned to customers’ changing needs and employing innovative solutions to enhance services. The bank aims to provide an outstanding customer experience while driving robust business growth through innovation. Al Amri expressed the bank’s commitment to contributing to the growth of the UAE economy and supporting clients’ aspirations. Moving forward, Commercial Bank International will continue to focus on delivering exceptional services and maintaining its reputation as a reliable financial institution.
The increase in net profit showcases Commercial Bank International’s ability to adapt to market dynamics and respond to customer demands effectively. By prioritizing customer satisfaction and leveraging innovation, the bank has positioned itself for sustained growth and success in the competitive banking sector. The continued growth in deposits reflects customers’ trust in the bank’s services and underscores its strong reputation in the market. Commercial Bank International’s strategic approach to business operations has yielded positive results and set a strong foundation for future growth.
As the CEO of Commercial Bank International, Ali Sultan Rakkad Al Amri is committed to driving the bank’s success and nurturing a culture of excellence. His leadership has been instrumental in steering the bank towards profitability and strategic growth opportunities. Al Amri’s focus on customer-centricity and innovation has been key to the bank’s success, enabling it to differentiate itself in a crowded marketplace. Under his leadership, Commercial Bank International has achieved significant milestones and established itself as a leading financial institution in the UAE.
Commercial Bank International’s performance in the first quarter of 2024 highlights its resilience and ability to navigate challenging economic conditions. The bank’s focus on customer satisfaction and innovation has allowed it to thrive despite uncertainties in the market. By continuously enhancing its services and adapting to evolving customer needs, Commercial Bank International has maintained a competitive edge and achieved sustainable growth. The bank’s strategic approach and commitment to excellence position it for continued success and expansion in the future.
In conclusion, Commercial Bank International’s strong performance in the first quarter of 2024 demonstrates its resilience, strategic focus, and commitment to delivering exceptional services. The bank’s growth in net profit and customer deposits reflects its ability to adapt to market trends and meet customer expectations effectively. With a customer-centric approach and a culture of innovation, Commercial Bank International is well-positioned for sustained growth and success in the dynamic banking industry. Under the leadership of Ali Sultan Rakkad Al Amri, the bank will continue to drive excellence, support economic growth, and fulfill its commitment to clients’ aspirations.
