Dubai Islamic Bank reported earnings results for the second quarter and six months ended June 30, 2018. The company posted a 14.6% increase in second-quarter net profit on July 18, 2018 as income from Islamic financing and investment grew. The company made AED 1.21 billion ($329.5 million) in the three months to June 30, it said, up from AED 1.06 billion a year earlier. Earnings were lifted by a 21.6% increase in net income from Islamic financing and investment transactions and a 12.7% rise in income from fees, commissions and foreign exchange.

For the six months, the company reported net profit of AED 2.44 billion, which is 14% up from AED 2.14 billion, during the same time last year. Net operating income or net operating revenues stand at AED 4 billion when compared to AED 3.6 billion same time last year.

For the quarter, the company reported that helped offset a 20% rise in impairment charges to AED 223.8 million.

The company expects net operating revenues for 2018 to be higher when compared to 2017.