AlembicHC
Losses widen for Amlak in contrast with rival Islamic lender Tamweel
Thu, 2011-08-18 12:13 — newsdeskAmlak had a larger net loss as income from its core business fell and impairments more than doubled. The net loss of the second quarter was Dh52.2 million (US$14.2m), compared with Dh597,000 in the same period last year.
Jaap Meijer, a senior analyst at AlembicHC in Dubai, stated that Amlak would need significant impairments on its property investment portfolio.
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