Faisal Islamic Bank's business volume grows 2.3% YoY in October: Egypt

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Faisal Islamic Bank of Egypt (FAIT) reported a 2.3% year-on-year (YoY) increase in business volume at the end of October 2023, according to the indicators filed to the Egyptian Exchange (EGX) on November 22nd.

The bank’s business volume recorded EGP 174.319 billion at the end of October, compared to EGP 170.379 billion in October 2022.

Total assets grew by 2% YoY to EGP 171.277 billion last October, compared to EGP 167.988 billion in the same month of 2022.

The number of customers’ accounts inched up by 1.8% YoY to EGP 1.999 million in October from EGP 1.964 million in the corresponding month last year.

Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services in accordance with Islamic Sharia principles through its head office and 27 branches located across the country.