Arab Today, arab today dubai\s amlak sees net loss widen as impairments double
Last Updated : GMT 18:19:32
Arab Today, arab today
Arab Today, arab today

Dubai\'s Amlak sees net loss widen as impairments double

Arab Today, arab today

Arab Today, arab today Dubai\'s Amlak sees net loss widen as impairments double

Dubai - Arabstoday

Troubled Islamic mortgage lender Amlak posted a wider second quarter net loss as income from its core business fell and impairments more than doubled, the company said in a statement on Tuesday.The Dubai lender made a net loss of AED52.2m ($14.21m) for the quarter, compared with a loss of AED597,000 in the comparable period one year earlier.Income from its core Islamic financing and investing assets business dropped 17.2 percent to AED130.8m, from AED158m a year ago.Impairments surged to AED61.2m from AED29.7m in the second quarter of 2010, Amlak said.The United Arab Emirates government suspended trading of Amlak along with rival Tamweel in November 2008 amid a liquidity crunch and announced intentions to merge the two Islamic lenders.That plan was effectively scrapped after the Dubai Islamic Bank raised its stake in Tamweel to 57.33 percent, effectively rendering the mortgage lender a subsidiary of the bank.Tamweel reported second-quarter net profit of AED27.7m ($7.54m) compared with AED5.4m for the year-ago period. From / Arabian Business News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai\s amlak sees net loss widen as impairments double Arab Today, arab today dubai\s amlak sees net loss widen as impairments double

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai\s amlak sees net loss widen as impairments double Arab Today, arab today dubai\s amlak sees net loss widen as impairments double

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday