Cairo – Mubasher: Faisal Islamic Bank of Egypt on Monday said that its business volume increased 11.1% by the end of January 2018, compared to the year-ago period.

The Islamic lender's business volume rose to EGP 84.66 billion by the end of the first month of the year, compared to EGP 76.21 billion in the same period a year earlier, according to a statement to the Egyptian Exchange (EGX).

The bank’s assets jumped 11.3% to EGP 83.4 billion last month versus EGP 74.91 billion in the corresponding period the year before.

The lender’s current accounts and saving schemes increased 11.8% or EGP 71.95 billion, while liquidated assets surged 31.9% to EGP 4.95 billion.

Faisal Islamic Bank generated EGP 1.7 billion in profits during the full-year 2017, down from EGP 2.8 billion in the prior year.

The bank’s standalone revenues tumbled to EGP 6.8 billion last year against EGP 7.4 billion in 2016.

Faisal Islamic Bank’s stock inched up 0.06%, closing Monday at SAR 16.82, after 73,000 shares were exchanged, with a liquidity of EGP 1.24 billion.