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Dubai Islamic Bank Q1 Net Profit Doubles

Dubai Islamic Bank Q1 Net Profit Doubles

The bank made Dhs636.6 million ($173.3 million) in the opening three months of the year, it said in a statement.

Dubai Islamic Bank (DIB), the largest sharia-compliant lender in the emirate, posted a doubling in first-quarter net profit on Thursday.

The bank made Dhs636.6 million ($173.3 million) in the opening three months of the year, it said in a statement to the stock exchange. This was up from Dhs301.7 million in the corresponding period of 2013.

The average forecast of four analysts polled by Reuters was for a net profit in the period of Dhs506.1 million.

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