Message from the CEO

Dear Colleagues,

I hope that the summer and the holy month of Ramadan has been a fruitful one for everyone. I would like to welcome back those who come been back from their vacation, and to those who will be going on their vacation for the remainder of the summer, we have some tips in the newsletter for you.

The remarkable outcome of the first half reflects the strength and capability of the Bank to continue a steady growth. This is the result of your teamwork and diligent execution of the business strategy given to the Bank’s management by our Board of Directors. Your dedication towards that vision has helped us grow and expand while increasing the trust and satisfaction level of our banking clients, and for this we thank you.

As you know, Commercial Bank of Dubai has recently published its first half year financials, with the Bank’s net profit for the second quarter is AED581 million, which showed an increase of 17 percent compared to the same period last year.

In addition to the milestone represented by the highest first half yearly profit ever, the Bank has garnered other achievements.

Winning the Dubai Human Development Award 2013 is one of the milestone in the successful journey of CBD. Such an honor indicates that we are on the right track in becoming the employer of choice.

I am happy to share that we are also setting new benchmarks in cyberspace. After launching CBD’s new online banking website and virtual assistant Sara, we have answered over 56,000 questions and have had more than 22,000 interactions with Editorial Team CBD customers. The new next-gen CBD website – which could be accessed through desktops, laptops, and smartphones – has brought us even closer to our retail, Badr Soueidan corporate and commercial clients, particularly the family-owned businesses that are the pillars of CBD. The bank’s Facebook page has already surpassed 100,000 likes.

John Tuke I would also like to take this opportunity to welcome and introduce Mr. Alain Renaud, who has recently joined us as General Manager - Corporate, Commercial & Investment Shamsa Al Suwaidi Banking. I am sure that the new appointment, which is part of the organizational restructuring and realignment of the bank, will set the stage for CBD’s ambitious future Areej Al Yousuf growth plans. With your hard work and loyalty, and the Board of Directors’ wise guidance, I am Hussain Al Qalaf positive that we will continue delivering the best financial performance over the next years.

Published on behalf of CBD by: With best regards,

Peter Baltussen

Contents

CBD arranges AED200 Baltussen: CBD is sustaining Vacations on the million loan for the the great growth momentum card? acquisition of Mövenpick Hotel Jumeirah Beach

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3 CBD wins Dubai Human Development Award 2013

In recognition of its outstanding organizations towards achieving Dubai’s Emiratization strategy has achieved, and we contribution towards human development, Human Development goal. CBD, among are honored to receive the Dubai Human Commercial Bank of Dubai was awarded other winners, was chosen from a list of Development Award 2013. We consider the Dubai Human Development Award 1,700 applicants. winning this award as an additional incentive 2013. His Highness Sheikh Hamdan bin for us to continue with our ambitious plans The award was announced during the 20th Mohmamed bin Rashid Al Maktoum to train and promote UAE nationals anniversary of the Business Excellence Awards presented the award to Peter Baltussen, specialized in the banking sector.” at the Madinat Arena, which was held under Chief Executive Officer and to Yaqoob Baltussen added: “Emiratization is among the patronage of His Highness Sheikh Yousuf Hassan, Deputy Chief Executive of CBD’s most prominent priorities. We have Mohammed Bin Rashid Al Maktoum, UAE Vice the Bank. This prestigious award is yet established a specialized unit to develop and President and Prime Minister and Ruler of another achievement by CBD for implement an effective Emiratization strategy Dubai. performance excellence in human that aims to consistently attract distinguished The awards were given by the development. national cadres, to train and groom them to Government of Dubai’s Business Excellence Commenting on the occasion, Baltussen occupy leadership positions in the Bank. We Department in recognition of the HR said: “Winning this prestigious award are keen to provide an environment that initiatives taken by individual business embodies the huge success that the Bank’s stimulates job growth for Emiratis.”

4 Bank sponsors Emiratization drive at Careers UAE 2014

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, paid a visit to the CBD pavilion at the “Careers UAE 2014”, which was held at Dubai International Convention and Exhibition Center. The Bank, as a silver sponsor for this annual event, had a booth in which HR staff and CBD executives met future employees. Through this participation, CBD showcased the career opprotunities available to UAE nationals and provided the students relevant information about the various training programs and the career path they can have at CBD. HH Sheikh Maktoum, who met local employees of the bank, was briefed on the efforts made by CBD in Emiratizing jobs and its future plans in this regard. Praising the Bank’s Emiratization drive, HH Sheikh Maktoum urged the local employees to dedicate themselves to work for the nation’s pride and dignity. Careers UAE is a leading recruitment and training event in the country that serves as a key platform for qualified Emirati graduates and experienced professionals. Shorouk Al Redha, Head of Human Resources said: “CBD is proud to be part of this initiative and we fully support the nation’s Emiratization march. We encourage and invite Emirati graduates to join the banking sector in general and CBD in particular.”

5 MoU with Higher Colleges of Technology to empower more UAE nationals Technology, praised Commercial Bank of Dubai for its initiatives to assist young Emiratis gain valuable skills and experience for vital careers in the banking and finance sectors. Dr Al Mulla said: “This partnership with Commercial Bank of Dubai will result in empowering our graduates with the knowledge, skills, and confidence to contribute effectively to the nation and its growing economy, as well as to reach their full potential and to ultimately lead them to successful future careers.” Also under the MoU, the Bank will give DMC an annual donation towards the student financial aid. The money will go to the Associated Students Fund at the college. As part of CBD’s mandate to attract UAE DMC students, enhancing their Besides training the students, the CBD nationals and develop their skills to employment prospects. outlet will extend its full range of banking empower them to play a greater role in the “Since its inception, Commercial Bank of services and products to students, staff, banking sector, the Bank signed a Dubai has considered Emiratization as one and alumni of DMC at competitive rates. Memorandum of Understanding (MoU) of its priorities and has continued its Other initiatives under the MoU include: with the Higher Colleges of Technology. mission-critical strategy of employing and inviting and sponsoring students to The MoU was signed by Dr. Saoud Al developing the skill-sets of UAE nationals,” industry events, conferences and Mulla, Director of the Higher Colleges of said Yaqoob Yousuf Hassan. promotions, wherever possible, offering Technology and Yaqoob Yousuf Hassan, He added: “As part of that commitment, work placement, summer employment, job Deputy Chief Executive at CBD. we continue with this collaboration which shadowing, permanent employment Under the MoU, the Bank will open an stems from both sides’ desire to develop opportunities; hosting on the DMC campus, outlet in the Student Center complex at skills and opportunities, and train students on occasion, international financial HCT-Dubai Men’s College (DMC). It aims to for employment in the financial services services and banking professionals as groom UAE nationals and prepare them for and banking sectors in Dubai, and guest speakers; and giving access to the a rewarding career in the banking industry. specifically for employment at the CBD.” CBD’s own training department and staff to The bank will provide hands-on work Speaking at the event, Dr Saoud Al help align the college programs with experience and professional training to Mulla, Director of the Higher Colleges of industry standards.

Commercial Bank of Dubai Key Financial Highlights of Q2 – 2014

• Operating profit for the first half corresponding period last year. It was AED 30.9 billion at the end of 2013. increased by 4.3% to AED 718 milion, 4.2% higher when compared to AED 44.5 as compared to AED 688 million for the billion as of December 31, 2013. • Capital adequacy ratio remained same period last year. robust at 20%. CBD’s Tier 1 capital • Loans and advances stood at AED ratio was at 18.6%. This is significantly • Net profit for the first-half of 2014 31.3 billion as of June 30, 2014, 6.8% above the regulatory thresholds of 12% was 17% higher at AED 298 million as more than 29.3 billion for the same and 8%, respectively, mandated by the compared to AED 251 million for the period last year. It was 3.4% higher than UAE Central Bank Leverage Ratio as same period last year. This is the AED 30.3 billion as on December 31, per Basel III guidelines. highest first half-yearly profit achieved 2013. by CBD. • Return On Average Assets • Customer deposits amounted to AED increased to 2.6% for the first half of • Total assets of AED 46.3 billion as 32.3 billion on June 30, 2014, 12.1% higher 2014, when compared to 2.4% for the of June 30, 2014, were 9.4% higher than AED 28.8 billion for the same period same period last year. compared to AED 42.4 billion for the last year. It was also 4.3% higher than

6 CBD arranges AED200 million loan for the acquisition of Mövenpick Hotel Jumeirah Beach

The Bank announced that it has arranged a financing of AED200 million on behalf of Bank Muscat Asset Management for the acquisition of Mövenpick Hotel JBR Dubai. The deal was originated by the Bank’s Corporate Banking Team with strong coordination with Bank Muscat counterparts. The deal marks another success in the Bank’s growing list of banking relationships, and further establishes itself in the corporate banking segment in the UAE and across the region. It also highlights the Bank’s commitment to servicing Dubai’s key engines of growth. Peter Baltussen, CEO of CBD, congratulated Bank Muscat Asset Management Team for their first acquisition the sectors with high prospects of growth said: “We would like to work with in Dubai and he hoped that UAE will attract in particular.” reputable Banks who are able to deliver further investments from them, which CBD The facility arranged by CBD on behalf of tailor-made solutions for us. We are happy would be very happy to facilitate. Bank Muscat Asset Management highlights to have selected CBD who have been Baltussen said:“The UAE economy has the leading position of CBD in the UAE’s very supportive and efficient in arranging been growing robustly with trade and banking sector and its ability to service this acquisition finance for us.” tourism as the main engines. This has different segments of clients from A small reception was arranged in made the UAE an attractive destination for government entities and family owned Movenpick Hotel – JBR and was attended regional and international investments. companies to top regional and international by Peter Baltussen and Sulaiman The acquisition of Mövenpick Hotel JBR companies such as Bank Muscat. Mohammed Hameed Al Yahyai, along Dubai illustrates the investors’ confidence Sulaiman Mohammed Hameed Al with other Senior Executives of both the in the UAE’s economy in general, and in Yahyai, Vice Chairman of Bank Muscat organizations. Commercial Bank of Dubai sponsors SAIF Zone’s First Investors’ Meet Commercial Bank of Dubai, as a strategic partner of SAIF zone, sponsored the First Investors’ Meet organized by Sharjah International Airport Free Zone Authority (SAIF Zone) at Al Jawaher Reception and Convention Center. The B2B investor forum was held under the patronage of Sheikh Khalid bin Abdullah bin Sultan Al Qasimi, Chairman of Sharjah Free Zones Authority. Sheikh Khalid pointed out that the Investor Meet 2014 is one of the premier economic events initiated by SAIF Zone, about the Bank’s strategies, goals, for organizing the investors’ gathering. providing a genuine opportunity for products, and services at the event A documentary about SAIF Zone’s investors to share experiences and attended by a large number of investors investment activity, including testimonies skills for business development as well from across the country. of a large number of investors, was also as serve as an ideal platform to interact, During the event, Abdul Rahim Abdul screened during the event. exchange ideas and share the expertise Aziz Al Nimer, Deputy General Manager The meet was the first in a series and and practical and technical skills. - Head of Commercial Banking at CBD, will be developed on the suggestions of The CBD team gave a presentation was honored in appreciation of his support investors.

7 CBD sets up cash office at Dubai Chamber

April 1, 2014. The opening of the new cash office, which was attended by CBD CEO Peter Baltussen and Dubai Chamber CEO and Chairman Hamad Buamim, aims to serve the emirate’s trade community even better. The CBD cash office, which will also feature a 24-hour ATM, will operate in accordance with the Chamber’s timings, which on general working days is between 8am and 4pm. Dubai Chamber customers can apply for a free Visa prepaid card from the CBD cash office next to the Membership and Documentation Services Department on the ground floor of the Chamber headquarters. The eco-friendly CBD Visa card can be obtained through a simple application process from the cash office at the Chamber by presenting an Emirates ID and a trade licence or Dubai Chamber membership certificate copies to the teller along with the loading amount of up to AED 5,000 to receive the activated card and pin on the spot. The card is fully secured with a chip and pin technology and the customers get access to a 24-hour balance enquiry Commercial Bank of Dubai recently The move seeks to assist Dubai service through a toll-free number. inaugurated its new cash office at the Chamber customers in applying for the The card is for free as is the first loading headquarters of Dubai Chamber of CBD-Dubai Chamber Prepaid Card or to but the subsequent reloading will come Commerce and Industry, also known as reload it as the trade body has stopped with a nominal AED 3 recharge fees per Dubai Chamber. accepting cash for any transaction from card per reload.

DID YOU KNOW? Commercial Bank of Dubai (CBD), which continuously adapts itself to the latest trends and technologies to make itself more client-friendly, has achieved several milestones on the online front in recent past.

Social Media 102,905 Likes on Facebook 3,000 conversations about the Bank @CBDUAE on Twitter Sara The Virtual Assistant 22,000 interactions with customers 56,000 questions answered

8 CBD sets up cash office at Dubai Chamber CBD credit cards offer the best interest rate at 1.5% He added: “For CBD, clients remain our top priority. We, therefore, remain constantly engaged on identifying their requirements and offering them services as per their needs and at a quality not easily emulated in the sector.” Customers also take advantage of 0% interest on balance transfers to clear their bank credit card outstandings does not merely at other banks. Further, a provide temporary financial balance transfer fee of 0% solutions but believes in lifelong In yet another move to offer its means it will cost customers nothing to partnership with its clients. The offer of customers the best in the market, the transfer balances. 1.5 percent interest rate per month on Commercial Bank of Dubai (CBD) is Frans Jan Burkens – Deputy General their credit card simply proves that the charging a rate of only 1.5 percent interest Manager – Personal Banking at the CBD Bank cares for them. per month on credit cards as compared to said: World MasterCard, Visa Infinite, all other competitors where rates are “With the lowest interest rate in the Signature and Classic, MasterCard Gold, typically in excess of 3 percent. market and a host of added benefits like e-Tijari Web Card are some of the Murray Sims, General Manager - no annual fees, limitless loyalty points and products in the segment that CBD offers Personal Banking, at CBD pointed out: Skyward miles, there has never been a to its wide range of clients. “Why should a customer pay double the better time to transfer or apply for a CBD “We expect this new and exciting rate per month when he or she can easily credit card.” repositioning to generate huge interest use a CBD credit card and pay less than Scores of CBD credit cardholders are from both existing as well as non-CBD half the amount.” the living testimonial, suggesting that the customers,” says Burkens. World MasterCard and Visa Infinite get you access to Mina A’Salam Talise Fitness As a mark of appreciation towards its clients, the Bank is offering complimentary access to Mina A’Salam Talise Fitness (Health Club) for one year to the applicants of World MasterCard and Visa Infinite credit cards. The value-packed benefits include free access at Mina A’Salam Talise Fitness (Health Club); complimentary access to the squash court, group exercise classes, Health Club swimming pool, steam and sauna, and valet parking at Mina A’Salam. The new holders of one of the two credit cards, specially designed for CBD’s most distinguished clients, will also get 20 percent discount at Talise Spas at Emirates Towers, Madinat Jumeirah, Jumeirah Beach Hotel and Zabeel Saray when they make a payment using their CBD World MasterCard or CBD Visa Infinite credit cards. While the customers need to pay only AED30 or three percent, whichever is higher, per month on cash advance, late world-class services that the CBD and Attijari Al Islami cards payment and over limit charges on both CBD World offer. We have also added the convenience of online application, MasterCard and Visa Infinite credit cards are only AED 150 per where our clients can apply for the cards online via cbd.ae, and month. also offer flexible settlement options from five percent to 100 “We urge our customers to take advantage of this percent of the outstanding amount,” said Frans Jan Burkens – extraordinary opportunity and benefit from the range of Deputy General Manager – Personal Banking at CBD.

9 Baltussen: CBD is sustaining the growth momentum In an interview with Attijari Al Youm, Peter Baltussen, CEO, Commercial Bank of Dubai, talks about several aspects of the UAE’s economy and how the Bank is poised to witness growth in the near future

After witnessing ‘‘ The introduction of transformational growth last the new regulations year, CBD’s CEO Peter and policy reforms Baltussen is positive that the has helped fuel UAE banking sector will see responsible lending double-digit profit growth this and helped the UAE year. economy tread the In this interview, Peter path of sustainable Baltussen discusses the bank’s growth„ new strategy, in line with the more robust local and regional economy: suggest that 2014 should be a good year for the financial How did CBD manage to sector. report an 18 percent rise in net profit to cross AED1 billion Will the bank continue to mark in 2013? What does 2014 follow same strategy? have in store for the banking CBD will continue to focus sector? heavily on companies and The year 2013 was an affluent individuals. However, we important one for the bank. After are also aggressively entering four years of witnessing sluggish the consumer banking market. growth in the aftermath of the In 2013, we were among the financial crisis, CBD showed fastest-growing banks in the double-digit balance sheet UAE in terms of consumer growth in 2013, while its net lending, as this portfolio grew profit crossed the Dh1-billion nearly 40 percent in 2013 mark for the first time. The loan against 2012. That’s quite a big growth, for example, recorded jump, but we feel comfortable an up to 12 percent increase, because we do it according to which was more than the past the responsible Central Bank few years put together. In that guidelines and we expect again sense, 2013 was a a substantial growth in transformational year. consumer lending this year too. The year 2014 is expected to be a continuation of last year’s Do you think that the banking positive momentum. There are sector in the UAE is three reasons why I feel that the adequately capitalized? Are banking sector would do well UAE banks ready for Basel III this year too. Number one is requirements? top-line growth as a result of the I think the word adequately is strong local economy. Number not correct. UAE banks are very two is lower provisions and well-capitalized. The current reduced cost of risk. And last, capital-adequacy ratio (CAR) for but not the least, are the the banking sector of about 19 possible write-backs of the percent is very high. The existing provisions into the Central Bank puts the CAR at bottom line. All these factors minimum 12 percent, so banks

10 large-sized companies. And we A day in the life of the CEO have three different executives to run these business units. At 6 am 8 am-12 pm present, the teams are much My alarm rings Meeting with clients and more focused in their respective business operations businesses and the results have proven that it was the right thing to do. 6:30 am 12 pm onwards Breakfast with my I have my normal meetings, with the Can you let us know about the wife and two sons management to discuss business-oriented breakdown of the new business then get in the car topics, strategic topics, and plans for the to go to work next year model? Our consumer loan portfolio 7:30-7:45 am 6 pm used to represent less than 10 Arrival at the office I leave work for either home or percent of the total balance some reception at night sheet. Today, it’s already at 12 percent and growing. We would like to get it to 20 percent of the total portfolio. From a profit perspective, the personal banking could be around 15 Get to know your CEO percent of our total profit 18 Q: Where did you work Q: What are your likes Q: What do you enjoy months ago, now it is moving before CBD? and dislikes in living in doing apart from towards 20 percent and we Peter: I’ve been working with project it to hit 25 percent three the UAE? working with CBD? years from now. CBD for eight years now, but Peter: I like the very positive Peter: I enjoy working, it’s before this I was working as the sentiment and the very positive fun, otherwise I wouldn’t be here. Are you hiring more people? CEO of Saudi Hollandi Bank, and environment here. I love the It’s nice to interact. We do enjoy before that I worked at ABN infrastructure. It’s amazing what nice evenings with clients’ family Yes. We now have about 1,500 AMRO Bank. I have been in many they’ve been able to build here in a at the majilis, for example. It’s not colleagues against around 1,350 different countries before moving short span of time. I love that we always possible, but during the people a year-and-a-half ago. to Dubai. I worked in Paris, Saudi have a very diversified community weekends, I do avoid business And the lion’s share of our new Arabia, Australia, South America, here; it’s great to be in an meetings so I can spend time with employees are working in Southern Europe, and many other environment that is so diverse and my family. It’s very important for personal banking. For the past 18 countries. I moved here to the UAE vibrant. The UAE is also a wonderful me that I have quality family time. months, we hired around 150 because I was very enticed by the family-oriented and secure country. I love sports, and I enjoy sports growth story of the country. The people and going forward, we’ll With regard to dislikes, I don’t really with my kids and my wife. We are definitely continue to hire. The growth story continues and what’s like the heat, specially in the all very active in sports like scuba number would be a little difficult happening is still extremely summer months. I do miss the diving, skiing and squash. to determine because it will grow exciting. mountains and lots of greenery so for that, we go to other countries. as per the business requirement. But I would expect at least another 50 people to join us have additional capital buffers thus better cost-to-income over the next 12 months. of 7 percent over the required How is it possible that CBD ratios. At CBD, the ratio has been ratio. has much higher capital hovering around 30 percent, You have one of the highest Regarding Basel III, one of the compared to its European while the average European percentages of Emirati main requirements is the competitors? bank has a cost-to-income ratio employees in the UAE banking leverage ratio, which means – There are two main reasons. at 60 percent. This means our sector. Are you looking to how much capital should a bank One, our profit generation banking operation is much more further increase their number? have compared to its total capacity is very high. If you look efficient because we make more Yes, CBD currently has a 41 assets. The minimum liquidity at the profits of the CBD, for revenue on a smaller cost base. percent Emiratization ratio and that Basel III dictates is 3 instance, we have a return on Last year, you had a business many are in key leadership percent, but the CBD leverage average equity at around 15 revamping. Can you expound positions. And although we could ratio stands today at 13 percent, percent, which is high on the new structure? outsource some of our support so it is more than four times than compared to European banks, We have decided to now have services to improve the ratio, we what is required. Another which are achieving 8 to 10 three business groups – prefer to keep such services in requirement of Basel III is the percent. One of the reasons personal banking; commercial house and instead employ many liquidity ratio. CBD already fully why we have high profit banking, which is for the Emiratis in those departments. complies with all the major margins is that we are more medium-sized companies; and Going forward, we strive to requirements of Basel III. efficient, with typically low and corporate banking for the further increase the number.

11 New General Manager for Corporate, Commercial and Investment Banking Commercial Bank of Dubai said: “We are delighted to international financial announced the appointment welcome Mr. Renaud at the institutions in New York, of Alain Renaud as its bank and wish him every London, Paris and Dubai, in General Manager - success in his new role.” particular HSBC, Paribas and Corporate, Commercial & “With his extensive Credit Suisse First Boston. Investment Banking as a part experience in corporate The new key CBD executive of its expansion strategy. banking, we are confident that has a strong track record of The newly appointed, Mr Mr. Renaud will add significant advising clients on strategic Renaud, who brings 23 years value to CBD, represent an transactions in global markets, of global experience in important addition to our particularly in the Middle East corporate and investment management team, and where he successfully advised banking, will help CBD in contribute to our efforts to key clients on landmark further strengthening its achieve the bank’s strategic transactions. Renaud has been strong position in the market. objectives,” said Baltussen. a regular advisor to some of Commenting on his Prior to joining CBD, Mr the largest companies in the appointment, MrPeter Renaud had held several key Gulf. Baltussen, the Bank’s CEO positions with a number of CBD joins RAKIA’s new business platform Ebrahim Al Zaabi, the Regional Manager of Northern Emirates at CBD, hailed RAKIA’s mission to offer complete solutions as per the needs of every investor. “Providing value and customer satisfaction, ensuring minimum transaction and Al Khalsan represents conversion cost, enabling businesses to flourish in the quickest possible time, and the Bank at GISEC 2014 making investment in Ras Al CBD participated in the Cybercrime’. Khaimah simple, easy, and a second edition of the Gulf Addressing executives from Commercial Bank of Dubai pleasant experience will surely Information Security Expo & the world’s leading information was part of the Ras Al Khaimah contribute to the growth of the Conference (GISEC) 2014, security companies and Investment Authority’s (RAKIA) emirate and the UAE,” said Al which was attended by brands exhibiting at the show, launch of a new platform for Zaabi while addressing at the delegates from over 18 he said: “Banks are an business leaders from its event. countries. increasingly desirable target tenant companies as one of its Commenting on the Hussain Al Khalsan, IT Risk for cyber terrorists and select partners. significance of the Tenants’ & GRC Manager, Risk hacktivists.” Designed to bring together Committee of Ras Al Khaimah, Management Department, “Financial institutions should leaders from various RAKIA’s Chief Operating represented the Bank at the learn the use of a combination businesses at RAKIA’s Officer, Probir Chakraborty, event, which was attended by of fraud and cybercrime industrial parks, the Tenants’ said: “Exchanges among leading experts from various prevention technology and Committee’s inaugural successful companies and business sectors. operations in support of a meeting attracted over 100 burgeoning organizations Al Khalsan shared his views holistic approach to corporate heads and senior create the foundation for on ‘How Banking And cybersecurity to make the managers from RAKIA economic and industrial Financial Institutions Are sector more secure,” Al tenants. development.” Tackling And Fighting Khalsan said at GISEC 2014.

12 CBD Credit Cards what you need... is what you get

ANNIVERSARY POINTS

ﻣﻜﺎﻓﺂﺕ ﺗﺴﺪﻳﺪ ﻓﻮﺍﺗﻴﺮ ﺍﻟﺨﺪﻣﺎﺕ ﻻ ﺣﺪﻭﺩ ﻟﻨﻘﺎﻁ ﺍﻟﺘﺠﺎﺭﻱ ﺍﻣﻴﺎﻝ ﻃﻴﺮﺍﻥ ﺍﻻﻣﺎﺭﺍﺕ ﺳﻜﺎﻱ ﻭﺍﺭﺩﺯ ﺍﻻﺳﺘﺮﺩﺍﺩ ﺍﻟﻨﻘﺪﻱ ﻣﻜﺎﻓﺂﺕ ﺳﻨﻮﻳﺔ Anniversary Rewards Cash-BackacationsEmirates Skywards Miles No Cap on Attijari PointsonUtility Bill Payment Rewards the card? Save on funds and have more fun

A vacation is the time to have fun. This No exchange tension: give you more time to have fun. But make getawayV time is generally meant to help Carrying debit and credit cards saves sure that you repay the amount to CBD you relieve your stress, refresh your mind you from an early hour rush to the nearest within time to avoid any interest on it. By and rejuvenate your body. But many a money exchange center to get your cash the way, normally, we just charge 1.5 times, these battery rechargers bring with converted into local currency everyday. percent, which is one of the lowest rates them several unnecessary tensions like Or wait for it to open before you really in the market. keeping tab on daily money exchange start your fun trip for the day. There is not rates, checking for fake currency, fearing much need to keep tab on the current Get purchase protections: theft, dreading mugging, etc. Commercial exchange rate and bargain with the Credit cards generally come with Bank of Dubai, therefore, advises you to executive for the best price if you have additional purchase protections and always carry its debit and credit cards your own debit and credit cards. That’s warranties. Taking advantage of this along with a little cash when you are not what vacations are meant for. facility may save you from getting cheated planning a getaway. They come really when you are in a foreign place. But handy and help you enjoy the vacation Helps you track the credit: checking with the bank on it before more. Below are few points that will make While on vacation, we sometime tend to embarking on a journey is advisable. you agree more with us. lose track of our expenses if we are using cash and realize it too late. With debit and Get free money: It may be known Easy and safe to carry: credit cards, it’s easy to keep track of as king, but there’s no reward for using Debit or credit cards are always easier expenditures. This may also come handy cash. With a credit card’s rewards point, and safer than carrying huge amounts of when you are planning your next trip. You you are basically earning free money. cash. They have no weight and take very don’t need to store all the receipts for Whether you use a cash-back, points, or little space. Even an expert pickpocket future reference. After all, you have not miles card, you earn something back on cannot guess how much money you are gone on vacation to do clerical jobs. the purchases you make. Then why not carrying. And if someone manages to get some freebies while having fun? steal them, chances are he will not be Avail of interest-free loan: So next time you pack for your vacation, able to use them so easily. Again, there A credit card is basically an interest- don’t forget to carry CBD debit and credit is no fear of being given fake currency free loan, where you can spend money cards, along with a little cash. Besides notes by small groceries in some foreign and repay it within 30 days. Then why not being handy, they will add to your destination. use this facility during vacations? It will enjoyment and reward you with points.

13 Staff bid farewell to Sayed Al Hashemi and VP Bhatia he joined on August 1, 1973. Al Hashemi’s hard work and devotion was continuously rewarded by CBD with promotions. He served as Regional Manager of Deira Region and was Advisor to the Business Group at the time of his retirement. VP Bhatia, who joined the bank on May 1, 1969, came a long way through his efficiency and dedication and retired as Head of Treasury Trading. The Bank’s management applauded his efforts and rewarded him with promotions. The colleagues and management praised the services and dedication of Al Hashemi and Bhatia during their long- term association with the bank. Mementos were also presented to them at the respective gatherings. Peter Baltussen said: “We are honored to have worked with Sayed and VP. Their years of service at the Bank has contributed to its growth and stability. We will surely miss them at CBD but I know Commercial Bank of Dubai Bhatia, as they retired after serving the that they will continue inspiring people as management and colleagues separately organization for decades. they have inspired and motivated their organized send-off parties for two senior At his farewell ceremony, Al Hashemi colleagues to be outstanding human employees, Sayed Al Hashemi and VP recounted his journey with the bank since beings.” CBD prioritizes community service With growth comes social that businesses should have the Humanitarian Needs, Emirates responsibility. And Commercial Bank of conscience to care for the community and Thalasmiah, and Beit Al Kheir Society. Dubai knows it well. Giving back to the the environment. Through these social activities, the community has always been its priority. The groups that received donations CBD seeks to build the capacity of It has partnered with several key from CBD this year include Red Crescent, non-profits by assisting them in cause-oriented, non-profit community- Zayed Higher Organization for developing, engaging, and retaining based groups to assist them morally and Humanitarian Care & Special Needs, community members as volunteers. financially in their various humanitarian Future Centre for Special Needs, CBD, through these cause-based projects. Mohammed Bin Rashid Foundation for non-profit organizations wants to serve a The donation is part of CBD’s Charitable & Humanitarian Establishment, few key areas, including education, Corporate Social Responsibility program, Al Thiqah Club for Handicapped, Dubai sustainable livelihood, public health, and which recognizes and supports the idea Autism Centre, Sharjah City for medical relief.

14 A night filled with fun, pride and togetherness

Commercial Bank of Dubai held its Staff Peter Baltussen, Chief Executive Officer Through a strategic partnership Gala Dinner on May 29, 2014. The event and Deputy Chief Executive Yaqoob between CBD and DNATA, the Grand held at JW Marriott Marquis Hotel, was Yousuf Hassan interacted with staff Prizes included, full packages for two to attended by more than 800 staff members members and their families. Hong Kong for two nights, and full and their spouses. Recognizing the outstanding package for two to Maldives for three Employees eagerly wait for this annual performances of the CBD employees, nights, and Dubai-London-Dubai airfares. gathering as they get a rare chance to Ghobash and Baltussen honored them Prominent radio station in Bahrain 96.5 socially mingle with all their colleagues with awards under different categories. FM DJ and Comedian Imran Al Aradi, also under one roof. There were also a raffle draw for prizes. known as the funniest man in Bahrain, The event was graced by Chairman The prizes include: MAF Gift Cards, Dnata enthralled the audience with his comic acts. Saeed Ahmed Ghobash and Deputy Travel Vouchers, Apple iPad Minis, Apple The informal night was filled with fun, Chairman Khalid Abdul Wahed Al iPhone 5s, Pioneer Home Theatres, excitement, pride, and a sense of Rostamani. Samsung Smart TV LEDs, one desert togetherness. And that’s the way Also present were other representatives safari for a couple, and one night stay for Commercial Bank of Dubai wants its staff of the Board of Directors. two in Yas Viceroy Abu Dhabi. to enjoy life.

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