July 14, 2014 / 11:28 AM / 4 years ago

Qatar Islamic Bank Q2 net profit gains 15 pct, beats estimates

DUBAI, July 14 (Reuters) - Qatar Islamic Bank (QIB), the Gulf state’s largest sharia-compliant lender by assets, posted a 15 percent jump in second-quarter net profit on Monday, according to Reuters calculations, beating analysts’ expectations.

The Islamic lender made a net profit of 389.6 million riyals ($107 million) during the three months to June 30, Reuters calculated, compared with 338.9 million riyals in the same period a year ago.

Analysts on average forecast a net profit of 348.8 million riyals for the period in a Reuters poll.

QIB did not provide a quarterly breakdown so Reuters calculated the figure based on previous financial statements.

Net profit for the first six months of the year gained 15 percent year-on-year to 725 million riyals, a statement from the bank said. ($1 = 3.6401 Qatar Riyals) (Reporting by David French; Editing by Olzhas Auyezov)

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