Commercial Bank of Dubai’s third quarter net profit increased by 4.5 per cent when compared to second quarter of 2012. Commercial Bank of Dubai (CBD) reported operating profit of Dhs982 million for the first nine months of 2012, an increase of 0.8 per cent compared to Dhs974 million for the first nine months of 2011. Operating income for the period Dhs1,396 million was marginally higher compared to that for the same period in 2011. This was mainly due to an increase in net interest income, which rose by 1.2 per cent to Dhs1,015 million mainly due to lower funding cost. Non-interest income decreased by 1.7 per cent to Dhs381 million, primarily due to lower fees & commission income which fell by 5.4 per cent to Dhs250 million. However, this drop in fees & commission income was partially off-set by 15.3 per cent increase in foreign exchange earnings. The Bank’s operating expenses for the first nine months of 2012 amounted to Dhs414 million, marginally lower than the previous year, thereby maintaining a steady cost to income ratio of 29.7 per cent. The bank continues to proactively manage credit quality as a part of its efforts to strengthen its balance sheet. From gulftoday