Dubai Islamic Bank Q2 net profit jumps 35%, beats forecasts

Dubai Islamic Bank (DIB) posted a 35 percent rise in second-quarter net profit on Wednesday.

Beating analysts' forecasts, the bank made Dh902 million  ($246 million) in the three months to June 30, it said in a statement, up from Dh667.5 million in the corresponding period of 2014.

Four analysts polled by Reuters had on average forecast a net profit of Dh804 million.

The bank has benefited in recent quarters from a decline in impairment charges as the domestic economy strengthens. This trend continued in the second quarter as impairment losses fell 12.6 per cent year-on-year to Dh140 million.