Mubasher: Ithmaar Bank, a subsidiary of Ithmaar Holding, posted a decrease of 18.3% in profits during the third quarter of 2018 compared to the same period a year ago.

Earnings declined to $1.15 million in Q3-18 from $1.41 million in Q3-17, the CEO of Ithmaar Holding said in a statement.

During the first nine months of 2018, Ithmaar Bank achieved profits valued at $4.67 million against a loss of $17.8 million in the corresponding period in 2017.