Faisal Islamic Bank's BoD okays standalone net of LE893m, 2017 budget
Updated 11/9/2016 4:24:58 PM
Arab Finance: Faisal Islamic Bank of Egypt’s (FAIT) (FAITA) Board of Directors was held on November 9.
BoD approved unaudited standalone financial results for the fiscal period ending September 2016, which revealed posting net profits of LE892.831 million versus net profits of LE646.905 million a year earlier, representing 38% growth.
Moreover, the bank's BoD ratified planning budget for 2017, as the bank targets to make growth worth LE2 billion, representing 2.7% growth, as well as distributable profits of LE1.291 billion, and that will lead to distribute profits on the shareholders representing 10%, in addition to the other distributions.
