DUBAI ISLAMIC BANK Q4 NET PROFIT RISES 62.8 PCT, RAISES DIVIDEND

DUBAI, Dubai Islamic Bank  DISB.DU  (DIB), the United Arab Emirates' largest sharia-compliant lender, posted a 62.8 percent increase in fourth-quarter net profit on Wednesday, according to Reuters calculations. 

    The bank made 1.15 billion dirhams ($313.1 million) in the three months to Dec. 31, Reuters calculated based on its full-year earnings statement as it did not provide a quarterly breakdown. 

    This compares with a profit of 706.3 million dirhams in the corresponding period of 2014 and the forecast by an analyst at HSBC for the quarter of 915 million dirhams. 

    The bank said in a bourse filing its 2015 net profit rose to 3.84 billion dirhams, up 37 percent from the previous year. 

    The bank's board proposed a 0.45 dirhams cash dividend for 2015, subject to central bank approval, it added. This is up from 0.4 dirhams for the previous year.  

($1 = 3.6730 UAE dirham)