Islamic mortgage lender Tamweelreported a third-quarter net profit of 185.7 million dirhams ($50.56 million) on Sunday, up 36.5 percent from the year-earlier period.
The earnings came just below Global Investment House’s forecast of 190.40 million dirhams and above Shuaa Capital’s forecast of 174 million dirhams in a Reuters survey last month.
Income from Islamic financing and investing assets more than doubled to 565 million dirhams in the three-month period from 236 million dirhams a year earlier, Tamweel said in a statement. (Reuters)
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