Dubai Islamic Bank third-quarter net profit rises 10.8 percent

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Dubai Islamic Bank (DIB)<DISB.DU>, the United Arab Emirates‘ largest sharia-compliant lender, posted a 10.8 percent increase in third-quarter net profit on Wednesday as income from Islamic financing and investment grew.

DIB made 1.23 billion dirhams ($334.89 million) in the three months to Sept. 30, it said, up from 1.11 billion a year earlier. The result was in line with the mean forecast in a Refinitiv poll.

The lender said Islamic finance and investing transactions grew to 2.48 billion dirhams from 2.01 billion a year earlier.

DUBAI (Reuters)

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