DUBAI: Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, reported a 30.4 percent jump in fourth-quarter net profit on Sunday, according to Reuters calculations, beating analyst forecasts.
The Islamic lender made a net profit of 470 million riyals ($129.1 million) during the period, Reuters calculated based on financial statements, compared with 360.3 million riyals in the last three months of 2013.
QIB did not provide a quarterly breakdown so Reuters calculated the figure for the fourth quarter based on comparing the latest announcement with previous financial statements.
Five analysts on average forecast a net profit of 333.3 million riyals for the period in a Reuters poll.
Net profit for 2014 gained 20 percent year-on-year to 1.6 billion riyals, Sunday's statement said.
The bank's board had proposed a cash dividend of 4.25 riyals per share for 2014, up from the 4 riyals a share it paid for 2013, the statement added.
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