Faisal Islamic Bank of Egypt’s standalone profit soars 180% YoY in Q1-24

Total revenues soared 82.40% YoY

Staff Writer, Mubasher

April 16, 2024

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Cairo – Faisal Islamic Bank of Egypt reported a 179.80% year-on-year (YoY) surge in the standalone net profit to EGP 6 billion during the first quarter (Q1) of 2024 from EGP 2.14 billion in the similar quarter a year earlier.

Total revenues soared 82.40% YoY to EGP 10.17 billion in Q1-24 from EGP 5.58 billion, according to financial indicators.

The earnings per share (EPS) ballooned 182.70% YoY to EGP 9.77 in the first three months of the year from EGP 3.43 the year before.

It is worth noting that Faisal Islamic Bank of Egypt’s consolidated net profits decreased by 6.90% YoY to EGP 4.42 billion in 2023 from EGP 4.75 billion.

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