Dubai Islamic Bank Q2 profit rises 14.6 pct | Reuters

Dubai Islamic Bank Q2 profit rises 14.6 pct | Reuters:

Dubai Islamic Bank (DIB), the United Arab Emirates’ largest sharia-compliant lender, posted a 14.6 percent increase in second-quarter net profit on Wednesday as income from Islamic financing and investment grew.

It is the third Dubai-based bank to report double-digit profit growth for the quarter after Commercial Bank of Dubai and Emirates NBD, Dubai’s largest lender, which posted a 30 percent rise in net profit on Wednesday.

DIB made 1.21 billion dirhams ($329.5 million) in the three months to June 30, it said, up from 1.06 billion a year earlier.