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Dubai's Tamweel Q3 Net Profit Plunges 95 Pct - ASHARQ AL-AWSAT English Archive
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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.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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