- DUBAI: Commercial Bank of Dubai will post an increase in full-year net profit, as the lender focuses on family-owned businesses in the UAE and growing its Islamic finance business, the firm’s chief executive said on Monday.
“Full-year profit will probably a bit better than last year,” Peter Baltussen told Reuters on the sidelines of a business conference.
Baltussen said wants to increase its Islamic finance operations - currently just above 10 percent of the bank’s deposits are in held in its Islamic finance business, a number the bank wants to increase to 30 percent after five years.
Non-performing loans for UAE banks were likely to peak in 2011, he added.