18.04.2012 - Tamweel Q1 profit drops 33pct
Islamic home finance provider Tamweel net profit in the first quarter of 2012 dropped 33 per cent to Dh18 million as compared to Dh27 million for the same period last year due to higher provisions. The company said profit fell lower on account of additional one time provision of Dh21.6 million for litigation losses. Operating profit before provisions increased to Dh48.5 million compared to Dh43 million in the same period last year...............................................Full Article: Source
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