Dubai - Mubasher: Mubasher Trade Research maintained Buy/Moderate Risk rating for Dubai Islamic Bank's (DIB) stock, with the same Price Target (PT) of AED6.9/share, after the bank announced the financial results for the second quarter of 2016.

DIB posted net earnings of AED 929 million in Q2-16, beating estimates of AED 881.3 million by 5.4%.

The research firm said it’s positive view for the bank is based on key drivers, such as that DIB is the largest Islamic bank by assets and market capitalization in the UAE, and that it’s showing strong operational performance and loan growth.

“DIB loan growth outpaces the industry as its net loan growth over the five years ending 2015, logged a CAGR of 11% compared to 6% for the entire industry.” The report said.

The Bank is well positioned for future growth, the report concluded.