Faisal Islamic Bank of Egypt's profit slides 39% in H1-20

The lender’s net interest income declined

Cairo – Mubasher: Faisal Islamic Bank of Egypt generated EGP 826.55 million in consolidated net profits during the first half (H1) of 2020, down by 38.8% year-on-year (YoY) from EGP 1.35 billion.

The lender’s net interest income declined to EGP 2.02 billion in the January-June period, compared to EGP 2.12 billion in the prior-year period, according to a bourse disclosure on Sunday.

Moreover, the bank’s standalone net profits plummeted to EGP 791.6 million in H1-20 from EGP 1.36 billion in H1-19.

During the first three months of the year, Faisal Islamic Bank achieved net profits of EGP 483.53 million, down from EGP 1.043 billion in the corresponding period a year earlier.

Source: Mubasher

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