Dubai: Dubai-based Commercial Bank International (CBI) on Monday announced that it has allocated financing amounting to Dh1 billion this year in support of small to medium size enterprises (SMEs) operating in UAE across various economic segments.
“We are seeing significant growth in the SME sector as the UAE’s economy continues to strengthen,” said Kris Babicci, CBI’s chief executive officer. “CBI intends to be a significant player in the SME and trade markets. We are committed to supporting government initiatives aimed at boosting business in the country and we are confident that CBI will add a new dimension to the environment in which our SME clients operate, thereby benefiting the national economy as a whole.”
In support of its SME business expansion strategy, CBI has recently opened its first dedicated business banking centre in Jebel Ali Free Zone. The opening of the facility has been driven by increasing demand from the burgeoning SME sector.
