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Faisal Islamic Bank’s business records EGP 108.3bn in Dec. 2019

Faisal Islamic Bank’s business records EGP 108.3bn in Dec. 2019
The bank’s assets rose to EGP 102.74 billion in December

Cairo – Mubasher: Faisal Islamic Bank of Egypt’s business volume grew by 13.5% year-on-year to EGP 108.3 billion at the end of December 2019.

The bank’s assets rose to EGP 102.74 billion in December from EGP 93.77 billion in the same month a year earlier, according to a bourse statement released on Tuesday.

Moreover, the value of current accounts and savings schemes ran by Faisal Bank increased to EGP 86.03 billion at the end of last December.

The number of the EGX-listed bank’s current accounts and saving schemes totalled 1.72 million in December, compared to 1.62 million in the year-ago period.

It is worth noting that Faisal Islamic Bank’s standalone financial statements showed a 7.9% year-on-year profit increase during the full year 2019.

The bank’s net profit grew to EGP 2.71 billion last year, compared to EGP 2.51 billion a year earlier.