69% of Dubai Trade's half-yearly profit reached 561 million

Dubai Commercial Bank reported a net profit of AED 561 million for the first six months of 2018, up 68.7% over the same period of 2017 due to an increase of 1, 1% of operating profit and operating expenses 5.6% to AED 424 million, while the provisions for impairment losses decrease by 35.5% and the operating result increases from 4.6% to 904 million AED. In the second quarter, earnings increased by 63% to AED 281.03 million compared with 172.3 million in the comparable period of 2017.
Operating profit increased to AED 1.33 billion, mainly in reason for a 6% increase in net interest income to 938 million Compared to AED 885 million, non-interest income decreased 9% to AED 390 million vs. AED 428 million.
Commission revenues increased by 2.8%, foreign exchange revenues by 27.6% and other revenues by 12.3% Compared to the same period of the previous year, revenues from Investment decreased (82.4%) due to the outstanding cash dividends of AED 55.7 million received in the first half of 2017. The efficiency ratio (cost / income) improved at 31%. , 9% compared to 34.2% over the same period in 2017.
Assets at AED 68.9 billion at June 30, 2018 increased by 1.5% compared to AED 67.9 billion at June 30, 2017. Loans and advances amounted to AED 47.2 billion, up 1.9% from AED 46.3 billion. Business banking, commercial banking and business loans totaled AED 44.4 billion, up 3.6% from AED 42.2 billion, while retail bank loans declined by 1.2% to 6.7 billion AED against 6.8 billion AED. Client deposits increased by 2.6% to AED 48.1 billion against AED 46.9 billion, current accounts and savings accounts representing 43.2% of total customer deposits, while the the ratio of financing to deposits was 98.1%.
Compared to 6.2% at the end of the first half of 2017, while the ratios In accordance with its provision for prudent depreciation, the Bank has set up provisions for additional impairment of AED 346 million in the first half of 2018 compared to 529 million AED in the first half of 2018. During the same period last year, the provision for expected credit losses for the first and second phases in accordance with Accounting Standard 9 was MAD 1.1 billion in the first half of the year. June 2018, or 2.0% of total risk-weighted assets.
On good levels of liquidity where ratios reached stable sources of funds 91% as at June 30, 2018 against 86.4%, compared to 100% of the maximum allowed by the instructions of the UAE Central Bank.
The capital adequacy ratio and the Tier 1 capital adequacy ratio were 15% 13.9%, which is significantly higher than the required minimum of 12.375% and 10.375% , respectively.
Dr. Bernards van Linder, Chief Executive Officer of the Bank, said: "The Bank performed well in the first half of 2018 thanks to the increase in operating income, net income, continuing decline in expenses from continuing operations. and WDR The P-Ratio of Loan Classed Loans. "The bank is committed to developing its digital services by leveraging the best available technology to better serve our customers and improve their banking experience."
"With solid financial position coupled with adequate liquidity and solvency in an ideal location to meet the needs of its clients.