Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, beat the average forecast of analysts as it reported a 27 per cent jump in second-quarter net profit on Tuesday, according to Reuters calculations.

The Islamic lender made a net profit of QR494.7 million ($131.9 million) during the period, compared with QR389.8 million in the same period a year ago, Reuters calculations showed, using financial statements in lieu of a quarterly earnings breakdown.

Seven analysts on average forecast a net profit of QR427.2 million for the period in a Reuters poll.

The lender did not provide a detailed breakdown of its earnings in the statement.

Qatar Islamic Bank posted net profit of QR895.1 million in the first half of the year, higher than QR725.2 million it reported a year-ago, according to its statement to the bourse. – Reuters