Cairo – Mubasher: Faisal Islamic Bank of Egypt reported a 13.8% year-on-year growth in its business volume at the end of May, recording EGP 97.47 billion from EGP 85.67 billion.  

The bank’s total assets grew by 13.5% to EGP 95.86 billion in May, compared to EGP 84.44 billion in the same month a year earlier, according to a filing to the Egyptian Exchange (EGX) on Wednesday. 

Year-on-year, the Islamic lender’s current accounts and saving schemes increased by 11.3% to EGP 81.2 billion in the fifth month of 2019, while investment balances rose by 13.8% to EGP 88.67 billion.

Meanwhile, the number of current accounts and saving schemes managed by the bank reached 1.661 million.

It is noteworthy that Faisal Islamic Bank of Egypt logged a net profit of EGP 1.04 billion from January to March, compared to EGP 777.95 million during the same period in 2018, according to its revised unaudited financial results.