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Aug 01 2012

CORRECTED-Dubai Islamic Bank Q2 profit down 6 pct, top estimates

(Corrects year-ago profit and provisions comparison figure)

DUBAI, July 31 (Reuters) - Dubai Islamic Bank ( DIB ), the largest sharia-compliant lender in the emirate, said on Tuesday its second-quarter net profit fell 6 percent, though the results still moved past analysts' forecasts.

The bank said it earned profit of 310 million dirhams ($84.4 million) in the three months to June 30, down from 330.56 million dirhams a year-ago.

Two analysts polled by Reuters forecast net profit of 246 million dirhams and 267 million dirhams.

In the first quarter of 2012, profit stood at 245 million dirhams, the bank said.

Impairments in the second quarter stood at 241 million dirhams, down from 299 million dirhams in the first quarter of the year. ($1 = 3.6730 UAE dirhams)

(Reporting by David French; Editing by Amran Abocar)

((davidj.french@thomsonreuters.com)(+971 4 362 5864)(Reuters Messaging: davidj.french.thomsonreuters.com@reuters.net))

Keywords: EMIRATES DUBAIISLAMIC/RESULTS


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