Cairo – Mubasher: Faisal Islamic Bank of Egypt has acquired 147,200 shares of the Egyptian Takaful Property and Liability Insurance Company (EGTAK) from Banque Misr.

The transaction was completed on Sunday for a sum of EGP 44.16 million, the bank revealed in a statement to the Egyptian Exchange (EGX), noting that the stake represents 0.38% of the bank’s equity.

It is worth noting that the bank reported EGP 2.05 billion in profits for the nine-month period from January to September, compared with EGP 1.96 billion for the corresponding period in 2018.