ArabFinance: Faisal Islamic Bank of Egypt (FAIT) reported a 14.1% year-on-year (YoY) growth in business volume for August 2021, according to a statement filed to the Egyptian Exchange.

The bank’s business volume recorded EGP 126.66 billion at the end of August 2021, compared to EGP 111.05 billion in August 2020.

Total assets increased by 14.2% YoY to EGP 124.96 billion in August 2021, compared to EGP 109.37 billion in the same month of 2020.

The bank’s current and saving accounts rose by 13.7% YoY to EGP 105.50 billion in August 2021.

It is worth noting that Faisal Islamic Bank of Egypt posted a consolidated net profit of EGP 1.09 billion in the first half (H1) of 2021, compared to a profit of EGP 826.55 million in H1 2020.

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.