Ithmaar Bank's holding in Faisal Islamic Bank stands at 14%

Central Bank of Egypt (CBE) approved the acquisition of shares of Faysal Investment Bank of Bahrain by Ithmaar Bank

  
Traders work at the Egyptian stock exchange in Cairo, Egypt April 18, 2016.

Traders work at the Egyptian stock exchange in Cairo, Egypt April 18, 2016.

REUTERS/Mohamed Abd El Ghany
Cairo – Mubasher: Faisal Islamic Bank of Egypt said that the Central Bank of Egypt (CBE) approved the acquisition of the shares of Faysal Investment Bank of Bahrain by Ithmaar Bank.

With this transaction, Ithmaar Bank’s holding in Faisal Islamic Bank of Egypt reaches 14.03%, the lender said in a statement to the Egyptian Exchange (EGX) on Monday.

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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