Faisal Islamic Bank's standalone profit drops 36% in nine months

The bank’s revenues decreased to $439mln


Cairo –  The unaudited standalone financial results of Faisal Islamic Bank of Egypt reported net profits of EGP 1.3 billion during the first nine months of 2020, down by 35.7% year-on-year (YoY) from EGP 2.05 billion.

The bank’s revenues decreased to EGP 6.89 billion during the January-September period from EGP 6.9 billion in the corresponding period a year earlier, according to a bourse disclosure on Sunday.

During the first half (H1) of 2020, the lender logged EGP 826.55 million in consolidated net profits, down from EGP 1.35 billion in the prior-year period.

Source: Mubasher

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