Dubai Islamic Bank Q3 Profit Up, Misses Forecasts
DUBAI, (Reuters) – Dubai Islamic Bank, the third-largest Gulf Arab Islamic lender by market value, posted a 25.2 percent increase in third-quarter profit after depositors’ share to 390 million dirhams ($106.2 million). The bank missed forecasts. The lender made 1.9 billion dirhams in the
DUBAI, (Reuters) – Dubai Islamic Bank, the third-largest Gulf Arab Islamic lender by market value, posted a 25.2 percent increase in third-quarter profit after depositors’ share to 390 million dirhams ($106.2 million).
The bank missed forecasts.
The lender made 1.9 billion dirhams in the nine months to Sept. 30, compared with 1.02 billion dirhams in the year-earlier period, according to a bank statement.
Forecasts for Dubai Islamic’s third-quarter profit ranged from 440 million dirhams to 441.06 million dirhams in a Reuters survey last month. To see the forecast, click on
Reuters calculated the bank’s 2007 third-quarter earnings from previous financial statements.
The lender made a profit attributable to shareholders of 311.57 million dirhams in the third quarter last year and 1.51 billion dirhams in the first half of this year.