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Dubai Islamic Bank Q3 Net Profit Rises 55.7%

Dubai Islamic Bank Q3 Net Profit Rises 55.7%

The bank made Dhs676.8 million of net profit attributable to the owners of the bank in the three months to September 30.

Dubai Islamic Bank (DIB), the United Arab Emirates’ largest sharia-compliant lender, posted a 55.7 per cent increase in third-quarter net profit on Wednesday, beating analysts’ forecasts.

The bank made Dhs676.8 million ($184.3 million) of net profit attributable to the owners of the bank in the three months to September 30, it said in a statement to the Dubai bourse, up from Dhs434.8 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 Dhs659.5 million.

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