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|10 October, 2018

Dubai Islamic Bank Q3 net profit rises 10.8%

Dubai Islamic Bank made $334.89mln in the three months to September 30

A branch of Dubai Islamic Bank.

A branch of Dubai Islamic Bank.

Dubai Islamic Bank

DUBAI  - Dubai Islamic Bank (DIB), the United Arab Emirates' largest sharia-compliant lender, posted a 10.8 percent increase in third-quarter net profit on Wednesday as income from Islamic financing and investment grew.

DIB made 1.23 billion dirhams ($334.89 million) in the three months to Sept. 30, it said, up from 1.11 billion a year earlier. The result was in line with the mean forecast in a Refinitiv poll.

The lender said Islamic finance and investing transactions grew to 2.48 billion dirhams from 2.01 billion a year earlier.

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($1 = 3.6728 UAE dirham)

(Reporting by Hadeel Al Sayegh, editing by Louise Heavens) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))