Dubai Islamic Bank Q2 net up 10%

Dubai Islamic Bank  (DIB) reported on Saturday a 10 percent increase in second-quarter net profit, according to a statement from the lender, beating analyst estimates.

The lender made a net profit of Dh331 million ($90.1) in the three months to end-June, up from Dh301 million a year earlier, the statement said.

Two analysts polled by Reuters had estimated a decline in second quarter profit to between Dh193 million and Dh208 million.

Half-year earnings grew 10 per cent to Dh552 million, the statement said.