May 1, 2014 / 6:52 AM / 3 years ago

Dubai Islamic Bank Q1 net profit doubles

DUBAI, May 1 (Reuters) - Dubai Islamic Bank (DIB), the largest sharia-compliant lender in the emirate, posted a doubling in first-quarter net profit on Thursday.

The bank made 636.6 million dirhams ($173.3 million) in the opening three months of the year, it said in a statement to the stock exchange. This was up from 301.7 million dirhams in the corresponding period of 2013.

The average forecast of four analysts polled by Reuters was for a net profit in the period of 506.1 million dirhams. ($1 = 3.6730 UAE Dirhams) (Reporting by David French; Editing by Praveen Menon)

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