Dubai Islamic Bank profit climbs 10.4%

MISSES FORECASTS: Dubai Islamic's profit rose 10.4 percent in the third quarter. (Getty Images)

Dubai Islamic Bank posted net profit of 430 million dirhams ($117.1 million) in the third quarter, up 10.4 percent from the year-earlier period, missing two analysts' forecasts.

The lender made 1.73 billion dirhams in the nine months ended Sept. 30 compared with 1.28 billion dirhams a year ago, an increase of 35.2 percent, it said in a statement without giving the quarterly figure.

Newswire Reuters calculated the third-quarter profit based on earlier financial statements.

Two analysts' forecasts for Dubai Islamic's third-quarter profit were 630.20 million dirhams and 543.17 million dirhams in a Reuters survey last month.

Dubai Islamic made 389.66 million dirhams in the third quarter of 2007 and 1.30 billion dirhams in the first half of this year. (Reuters)

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