Faisal Islamic Bank's standalone profit leaps

This marked a Year on Year rise of 28.5% when compared to $50.40 in H1 2020

  
An employee counts money at an exchange office in downtown Cairo June 5.

An employee counts money at an exchange office in downtown Cairo June 5.

REUTERS/Amr Abdallah Dalsh
 

Egypt - Faisal Islamic Bank of Egypt (FAIT) posted a standalone net profit of EGP 1.017 billion in the Half one (H1) of 2021, according to the company’s unaudited financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 28.5% when compared to EGP 791.639 million in H1 2020.

By the end of May, the bank’s business volume reached EGP 123.090 billion.

Total assets rose by 15.4% YoY to EGP 121.185 billion in May 2021, compared to EGP 105.001 billion in May 2020.

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

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