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* * DIB Q1 net profit 1.34 bln dhs vs 1.17 bln dhs year-ago
DUBAI, April 23 (Reuters) - Dubai Islamic Bank (DIB)
The United Arab Emirates largest sharia-compliant lenderalso received approval to appoint financial advisers to conductdue diligence and valuation of Noor Bank, it said in astatement.
Dubais sovereign investment group, Investment Corp of Dubai(ICD) is a common shareholder in the two banks. ICD owns 28.37percent of DIB and more than 22.7 percent of Noor Bank.
DIB, the world's oldest Shariah-compliant lender, is intalks with shareholders of Dubai-based Noor Bank over a possibleacquisition of the lender, three sources told Reuters thismonth.
In a statement on April 14, the bank said it regularly looksat opportunities to support expansion including acquisitions.
DIB also reported a first quarter net profit attributable toshareholders of 1.34 billion dirhams ($365 million), up 15percent from 1.17 billion dirhams a year earlier.
Total income rose 26 percent to 3.4 billion dirhams.
Net financing and sukuk investments of 179.3 billion dirhamswere up 2 percent from end-2018.
Total assets stood at 226.5 billion dirhams at the end ofquarter, up 1.3 percent from end-2018.
(Reporting By Stanley Carvalho; editing by Hadeel Al Sayegh andJason Neely) ((stanley.carvalho@thomsonreuters.com; + 9712 6444431; ReutersMessaging: stanley.carvalho.thomsonreuters.com@reuters.net))