ArabFinance: Faisal Islamic Bank of Egypt (FAIT) reported an 10.9% year-on-year (YoY) growth in business volume for November 2021, according to a statement filed to the Egyptian Exchange.

The bank’s business volume recorded EGP 129.697 billion at the end of November 2021, compared to EGP 116.977 billion in November 2020.

Total assets increased by 13.3% YoY to EGP 128.22 billion in November 2021, compared to EGP 113.12 billion in the same month of 2020.

The bank’s current and saving accounts rose by 13.1% YoY to EGP 108.18 billion in November 2021 from EGP 95.69 billion in the prior-year period.

It is worth noting that the bank’s consolidated net profit stood at EGP 1.77 billion during the January-September period of 2021, compared to EGP 1.43 billion in the same period of 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.