Faisal Islamic Bank's business volume grows 9%

ArabFinance: Faisal Islamic Bank of Egypt (FAIT) (FAITA) said its business volume reached EGP 112.8 billion in August 2020, according to the bank's statement filed to the Egyptian Exchange.

The div marked a 9.3% rise from the EGP 103 billion recorded in August 2019, the statement added

The bank's total assets increased 13% to record EGP 109.7 billion in August 2020, compared to EGP 97 billion in the same month a year earlier.

The current accounts and deposits rose to EGP 93 billion in August 2020, a 13% growth from EGP 82 billion in August 2019.

The bank reported a consolidated net profit before minority interest of EGP 854.074 million in the first half (H1) of 2020, a 37% decline From EGP 1.348 billion achieved in H1 2019.

Standalone net profit reached EGP 791.639 million in H1 2020, a 42% decline from EGP 1.360 billion posted H1 2019.

Faisal 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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