Dubai Bank First-Quarter Net Income Quadruples on Islamic Loans

dubai bank, an islamic bank 30 percent-owned by emaar properties pjsc, the middle east's biggest publicly traded real estate developer, said first-quarter profit quadrupled on demand for islamic loans.

net income rose 131.5 million dirhams ($36 million) in the three months to march 31, from 32.9 million dirhams a year earlier, the dubai-based bank said in an e-mailed statement today. total assets grew 53 percent to 14.4 billion dirhams.