Cairo – Mubasher: Faisal Islamic Bank of Egypt posted a 2.7% year-on-year growth in its profits after taxes during the first half of 2019, according to the bank’s standalone financial statements.

Net profits totalled EGP 1.376 billion from January to June, compared to EGP 1.34 billion in the year-ago period, the Egyptian lender said in a statement to the Egyptian Exchange (EGX) on Thursday.

Year-on-year, revenues rose by 9.8% to EGP 4.575 billion in the six-month period ended 30 June from EGP 4.168 billion in the corresponding period a year earlier.

During the first quarter of 2019, the bank logged a net profit of EGP 1.04 billion, compared to EGP 777.95 million in the corresponding period of 2018.