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Dubai's Tamweel Q3 Net Profit Plunges 95 Pct - ASHARQ AL-AWSAT English Archive 2005 -2017
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DUBAI, (Reuters) – Dubai’s Tamweel recorded a third-quarter net profit of 10 million dirhams ($2.72 million), down 95 percent from the year-earlier period, and took impairment provisions of 53 million dirhams in the quarter, it said on Sunday.

The Islamic mortgage lender made a net profit of 65 million dirhams in the first nine months of the year, the firm said in a statement on Dubai’s bourse website.

Tamweel made a net profit of 185.7 million dirhams in the third quarter last year.