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Dubai Islamic Bank Q3 Profit Up, Misses Forecasts - ASHARQ AL-AWSAT English Archive
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DUBAI, (Reuters) – Dubai Islamic Bank, the third-largest Gulf Arab Islamic lender by market value, posted a 25.2 percent increase in third-quarter profit after depositors’ share to 390 million dirhams ($106.2 million).

The bank missed forecasts.

The lender made 1.9 billion dirhams in the nine months to Sept. 30, compared with 1.02 billion dirhams in the year-earlier period, according to a bank statement.

Forecasts for Dubai Islamic’s third-quarter profit ranged from 440 million dirhams to 441.06 million dirhams in a Reuters survey last month. To see the forecast, click on

Reuters calculated the bank’s 2007 third-quarter earnings from previous financial statements.

The lender made a profit attributable to shareholders of 311.57 million dirhams in the third quarter last year and 1.51 billion dirhams in the first half of this year.

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Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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