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Faisal Bank’s business volume hikes 12.2% YoY in February

Faisal Bank’s business volume hikes 12.2% YoY in February

ArabFinance: Faisal Islamic Bank of Egypt (FAIT) reported an 12.2% year-on-year (YoY) growth in business volume for February 2022, according to a statement filed to the Egyptian Exchange.

The bank’s business volume recorded EGP 133.81 billion at the end of February 2022, from EGP 119.271 billion in February 2021.

Total assets increased by 12.9% YoY to EGP 132.194 billion in February 2022, compared to EGP 117.116 billion in the same month of 2021.

The bank’s current and saving accounts rose by 11.7% YoY to EGP 110.739 billion in the second month of 2022, from EGP 99.171 billion in the prior-year period.

It is worth noting that the bank’s consolidated net profit excluding minority shares amounted to EGP 2.967 billion in 2021, compared to EGP 2.247 billion in 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.

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