Dubai Islamic posts $232m net profit for Q1 DUBAI, 4 hours, 20 minutes ago Dubai Islamic Bank, the largest Islamic bank in the UAE and the second largest Islamic bank in the world, has posted a net profit of AED853 million ($232.2 million) for the first quarter (Q1) of the year, rebounding strongly from last quarter. Q1 highlights: • Total income reached AED2.8 billion as the bank continued to display resilience in the given economic scenario. • Profit before impairments rose to AED1,614 million compared to AED1,592 million in the same period last year. • Operating expenses of AED612 million were lower by 27% year on year vs AED839 million, driven by stringent cost discipline and materializing of substantial integration cost synergies.