Faisal Bank’s business volume reaches EGP 120B

ArabFinance: The business volume of Faisal Islamic Bank of Egypt (FAIT) reached EGP 120.454 billion by the end of March 2021, according to the bank’s statement to the Egyptian Exchange on April 19^th.

This indicates an 11.2% Year on Year (YoY) growth compared to EGP 108.335 billion in the same period of 2020.

Total assets rose by 12.9% YoY to EGP 118 billion in March 2021, compared to EGP 105 billion in March 2020.

The bank’s current and saving accounts grew 13.4% YoY to EGP 100.140 billion in March.

The bank posted a net profit of EGP 2.247 billion in 2020, compared to EGP 2.78 billion in 2019.

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.