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FAB Revises Commercial Bank of Dubai Rating After In-line Q2 Net Profit

MT Newswires·07/24/2026 04:39:03
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04:39 AM EDT, 07/24/2026 (MT Newswires) -- FAB Securities updated its investment view on Commercial Bank of Dubai (DFM:CBD) following the Emirati lender's second-quarter results. "We revise our rating on CBD from BUY to ACCUMULATE with an unchanged target price of AED 10.70. The Bank reported net profit growth of 2.1% YOY in 2Q26, supported by growth in loans, and lower impairment charges, offsetting margin compression and higher expenses. Gross lending reached AED 108.2 Bn, representing c.4.0% of the UAE loan market share in 2Q26," FAB wrote in a Thursday note. The research firm said the bank's net profit of 886 million Emirati dirhams was in line with its forecast of 867 million dirhams. Meanwhile, net funded income for the three-month period was 994 million dirhams, against FAB's estimate of 1.06 billion dirhams. "The Bank maintained its loan growth guidance for 2026 of mid-to-high single digits, broadly in line with sector trends," analysts added.