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Dubai Islamic Bank reports Q3 net profit of $73.5 mln

Profits estimated to be down 30 million.

November 7, 2010 11:43 by

Dubai Islamic Bank  reported a third-quarter net profit of 270 million dirhams ($73.53 million), down from 300.4 million dirhams a year earlier, it said in a statement on Saturday.

The lender, Dubai’s third-largest bank by market value, also said it made provisions of 124 million dirhams in the quarter, bringing its total provisioning for the first nine months, ending Sept. 30, to 444 million dirhams.

(Reporting by Tamara Walid; Editing by Susan Fenton)

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