Tamwell PJSC posts Dh31.5m profit in first quarter

Dubai: Tamwell PJSC, a majority owned subsidiary of Dubai Islamic Bank, on Sunday announced its interim financial statements for the period ending March 31.

The company posted profits of Dh31.5 million, up for Dh20.5 in the same period last year, with operating income down at Dh118 million from Dh149 million. Income from Islamic financing and investment assets stood at Dh108,435, a decrease of 21 per cent from Q1 2013, when income in this area stood at Dh135,623