Cairo – Mubasher: The consolidated financial statements of Faisal Islamic Bank of Egypt showed an 8.6% year-on-year (YoY) increase in its net profits during 2019.

The Islamic lender achieved net profits of EGP 2.78 billion last year, up from EGP 2.56 billion in 2018, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, the bank’s net interest income rose to EGP 4.4 billion in 2019, compared to EGP 3.957 billion in the prior year.

It is noteworthy to mention that the bank’s unaudited standalone financial results reported net profits of EGP 2.71 billion, up from EGP 2.51 billion a year earlier.