UPDATE 1-Dubai Islamic Bank Q1 net profit rises 34 pct, beats estimates

April 15, 2015 8:54 AM

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DUBAI, April 15 (Reuters) - Dubai Islamic Bank (DIB), the United Arab Emirates' largest sharia-compliant lender, reported a 33.9 percent increase in first-quarter net profit on Wednesday, as income from Islamic financing and investment rose and bad loan losses eased.

Beating analysts' forecasts, the bank made a net profit attributable to shareholders of 816.7 million dirhams ($222.4 million) in the three months to March 31, it said in a statement, up from 610.1 million dirhams in the corresponding period of 2014.

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