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Faisal Islamic Bank Egypt reports 30.3% growth in 2021 standalone profit

Faisal Islamic Bank Egypt reports 30.3% growth in 2021 standalone profit

ArabFinanceFaisal Islamic Bank of Egypt (FAIT) reported a 30.3% year-on-year increase in standalone net profit for the year ended December 31st 2021, according to the bank’s unaudited financial indicators filed to the Egyptian Exchange (EGX).

The bank’s standalone net profit after tax stood at EGP 2.68 billion in 2021, up from EGP 2.05 billion in 2020.

Revenue rose by 17.3% YoY to EGP 11.31 billion in 2021, from EGP 9.64 billion in 2020.

Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services in accordance with Islamic Sharia principles through its head office and 27 branches located across the country.

 

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