Amlak posts Q3 loss of $12.3m
Dubai, December 1, 2009
Dubai's Amlak recorded a third-quarter net loss of Dh45 million ($12.25 million), it said in a statement on Tuesday.
The Islamic mortgage lender made a net loss of Dh178 million in the first nine months of the year due to "further prudent general provisioning on mortgage financing portfolio", it said.
Amlak reported net profit attributable to shareholders of Dh174.33 million in the third quarter of 2008. – Reuters