Qatar Islamic Bank posts 15 pct Q1 net profit increase

DUBAI, April 16 Wed Apr 16, 2014 9:08am EDT

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DUBAI, April 16 (Reuters) - Qatar Islamic Bank, the largest sharia-compliant lender in the Gulf Arab state by assets, posted a 15 percent increase in first-quarter net profit on Wednesday, edging ahead of analysts' expectations.

The bank made a net profit of 335 million riyals ($92 million) in the opening three months of 2014, it said in a statement. This compares with 291.2 million riyals in the corresponding period of last year.

Eight analysts polled by Reuters, on average, forecast a net profit of 327.7 million riyals for the period. ($1 = 3.6409 Qatar Riyals) (Reporting by David French; Editing by Praveen Menon)