Abu Dhabi – Mubasher: Finance House reported a decline of 9.8% during the second quarter of 2017 compared to the same period a year ago.

Earnings shrank to AED 5.51 million ($1.49 million) in Q2-17 from AED 6.11 million ($1.66 million) in Q2-16, according to a bourse filing issued on Tuesday.

The company’s operating revenues shrank by 11% to AED 68.86 million in Q2-17 from AED 77.43 million in Q2-16.

Finance House’s provisions of loans value increased by 6.6% to AED 11.49 million in Q2-17 from AED 10.78 million in Q2-16, according to the statement.

During the first six months of 2017, Finance House posted a fall of 3.3% in profits to AED 30.58 million from AED 31.65 million in the same half a year ago.

It is worth noting that Q1-17 profits decreased by 1.8% year-on-year to AED 25.07 million.