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Faisal Islamic Bank’s assets reach over EGP 103bn in January 2020

Faisal Islamic Bank’s assets reach over EGP 103bn in January 2020
A Faisal Islamic Bank branch in Egypt

Cairo – Mubasher: Faisal Islamic Bank of Egypt’s assets grew by 13.9% year-on-year at the end of January 2020.

The bank’s assets rose to EGP 103.148 billion in January from EGP 90.593 billion in the same month a year earlier, according to a bourse statement released on Thursday.

Moreover, the value of current accounts and savings schemes ran by Faisal Bank increased to EGP 87.075 billion at the end of last January.

The number of the EGX-listed bank’s current accounts and saving schemes totalled 1.73 million during the first month of the year, compared to 1.63 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.