#Dubai Islamic Bank's profit rises 15 pct in fourth quarter | Reuters

Dubai Islamic Bank's profit rises 15 pct in fourth quarter | Reuters:

Dubai Islamic Bank (DIB), the United Arab Emirates’ largest sharia-compliant lender, reported a 15 percent rise in fourth-quarter net profit on Wednesday, in line with forecasts, according to Reuters calculations.

The bank made 1.30 billion dirhams ($354 million) in the three months to Dec. 31, Reuters calculated from financial statements in the absence of a quarterly breakdown. This compares with a profit of 1.13 billion dirhams in the corresponding period of 2017.

The average forecast of three analysts was for DIB to make a quarterly profit of 1.22 billion dirhams, according to Refinitiv data.