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Commercial Bank of Dubai (CBD) AGM approves the highest-ever financial performance and dividend distribution of 44.38 fils per share

11 March 2024

The Board of Directors of Commercial Bank of Dubai (CBD) have elected Ahmad Abdulkarim Mohammad Julfar as Chairman of the Board of Directors, and Ahmad Abdulla Juma Binbyat, as the Deputy Chairman.

انتخب مجلس إدارة بنك دبي التجاري السيد أحمد عبد الكريم محمد جلفار رئيساً لمجلس إدارة البنك، والسيد أحمد عبد الله جمعة بن بيات نائباً لرئيس مجلس الإدارة.

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31 March 2015

Moody’s Affirms CBD’s Long-Term Rating

Moody’s Investors Service affirmed CBD’s Baa1/ Prime-2 deposit ratings and ba1 baseline credit assessment (BCA) with stable outlook.

Moody’s commented that the rating reflects the Bank’s established domestic franchise, focused on the mid-sized corporate banking segment, which benefits the bank’s profitability and capitalization metrics.

The ratings were also based on the view of a very high likelihood of systematic support would be provided to CBD from the United Arab Emirates government in case of need.

Moody’s notes that CBD’s pre-provision income on average risk-weighted assets (RWAs) and net income on average RWAs are in line with UAE expected averages, and well above the global median for banks with a BCA of ba1.

Furthermore, Moody’s highlighted that as a result of its strong profitability, CBD has a strong internal capital growth. Tier 1 ratio increased to 16.8% in 2014 from 14% in 2009. These are strong when compared with UAE expected average of 16% and also compares favorably with the global median of ba1 rated banks of 12%.