Faisal Islamic Bank's profit increases in 2019, falls in Q1 2020
Updated 5/3/2020 11:52:43 AM
ArabFinance: Faisal Islamic Bank of Egypt (FAITA) reported an 8.6% Year on Year (YoY) rise in its consolidated net profit for 2019, according to a May 3rd disclosure filed to the Egyptian Exchange.
Consolidated net profit reached EGP 2,785,120,000 in 2019, an increase from EGP 2,564,099,000 posted a year earlier.
Nevertheless, the bank reported a net standalone profit for Quarter 1 of 2020 worth EGP 469,023,000, a 55% decline from EGP 1,043,359,000 posted in the same period of 2019.
The institution announced distributing cash dividends of EGP 1.28332 per share on April 16th.
Meanwhile, Faisal Islamic Bank will pay $0.08 per US Dollar-denominated share.
Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services in accordance to Islamic Sharia principles through its head office and 27 branches located across the country.
