Faisal Islamic Bank Egypt reports 27.2% standalone profit growth in 9 months

The bank’s standalone net profit after tax stood at $106mlm in the January-September period of 2021

  
A trader works at the Egyptian stock exchange in Cairo. Image for illustrative purposes.

A trader works at the Egyptian stock exchange in Cairo. Image for illustrative purposes.

REUTERS/Mohamed Abd El Ghany
 

Egypt - Faisal Islamic Bank of Egypt (FAIT) reported a 27.2% year-on-year increase in standalone net profit for the first nine months of 2021, according to the bank’s preliminary financial results filed to the Egyptian Exchange (EGX).

The bank’s standalone net profit after tax stood at EGP 1.68 billion in the January-September period of 2021, up from EGP 1.32 billion in the prior-year period.

It is worth noting that the bank achieved a standalonenet profit of EGP 1.015 billion in H1 2021, up from profits of EGP 791.63 million in the prior-year period.

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.

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