23.10.2012 - Tamweel posts Dh45mln net profit
Tamweel PJSC, the UAE Islamic home finance provider, on Monday reported an operating income of Dh452 million in the first nine months of 2012, compared with Dh446 million in the corresponding period for 2011. Operating income was higher than recorded in the corresponding period despite competition on profit rates. Net profit stood at Dh45 million, compared with Dh71 million in the same period last year. Net profit was lower in the current reporting period mainly due to provisions and higher funding costs...............................................Full Article: Source
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