Faisal Islamic Bank of Egypt sees 31% profit decline

Faisal Islamic Bank of Egypt posted a 31% Year on Year decline in its consolidated net profit in the first nine months

  
ArabFinance:Faisal Islamic Bank of Egypt posted a 31% Year on Year decline in its consolidated net profit in the first nine months of 2020, according to the company’s November 29th financial statements filed to the Egyptian Exchange.

Consolidated net profit before minority interest stood at EGP1.434 billion in the January-September 2020, compared to EGP 2.080 billion achieved in the prior-year period.

The bank said its business volume reached EGP 115.84 billion in October 2020.

The bank has got the approval of the Central Bank of Egypt to merge the shares of Faisal Investment Bank - Bahrain and Ithmaar Bank.

Faisal Islamic 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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