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Tamweel swings to Q2 profit, Amlak cuts loss

Dubai, August 16, 2010

Dubai Islamic mortgage lender Tamweel, which may merge with rival Amlak, said on Monday it swung to a second-quarter net profit of Dh5.4 million ($1.47 million).

Tamweel made a loss of 35 million dirhams in the same period last year. Separately, Amlak said it made a second-quarter comprehensive loss of Dh5.1 million. It had a loss of Dh53.3 million in the second-quarter last year.-Reuters




Tags: Amlak | Dubai | Tamweel | Islamic mortgage |

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