Faisal Islamic Bank's business volume grows in September

Current accounts and savings schemes rose


Cairo – Mubasher: Faisal Islamic Bank of Egypt recorded a 10.66% year-on-year (YoY) growth in its business volume, registering EGP 114.68 billion at the end of last September, compared to EGP 103.62 billion, the bank’s financial indicators showed.

The Islamic lender’s assets rose to EGP 110.79 billion in September from EGP 97.74 billion in the same month a year earlier, according to a bourse disclosure on Sunday.

Additionally, the current accounts and savings schemes managed by Faisal Islamic Bank increased to EGP 93.88 billion.

The number of current accounts and savings schemes ran by the bank registered 1.78 million, compared to 1.7 million in September 2019.

During the first nine months of 2020, the bank logged standalone net profits of EGP 1.3 billion, down from EGP 2.05 billion in the prior-year period.

Source: Mubasher

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