Jan 23 2013 |
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Tamweel net profit drops 29%
Posts Dh72 million profit in 2012 due to higher provisions
Tamweel reported operating income at Dh603 million in 2012 compared with Dh601 million in 2011.
"During 2012, Tamweel continued to capitalise on the upturn in the UAE property market, by providing a complete suite of home finance solutions," said Abdulla Ali Al Hamli, Chairman of Tamweel .
Varun Sood, Acting Chief Executive Officer of Tamweel , said: " Tamweel 's focus on service excellence continues to serve the Company well. As the recovery of the UAE property sector gathers pace - with average home prices increasing between 10 per cent to 15 per cent over an 18 month period - Tamweel 's innovative, customer-centric solutions will keep us at the forefront of the country's home finance market."
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