Faisal Islamic Bank's consolidated profit leaps 181% YoY in Q1-24

Revenues soared 78.80% YoY to EGP 11.66 billion in Q1-24 from EGP 6.52 billion, according to unaudited financial results

Staff Writer, Mubasher

May 9, 2024

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The consolidated net profit of Faisal Islamic Bank of Egypt jumped 180.60% year-on-year (YoY) to EGP 6.16 billion in the first quarter (Q1) of 2024 from EGP 2.19 billion.

Revenues soared 78.80% YoY to EGP 11.66 billion in Q1-24 from EGP 6.52 billion, according to unaudited financial results.

The basic earnings per share (EPS) recorded EGP 10.40 in the three-month period that ended on 31 March 2024, a 185.50% YoY leap from EGP 3.51.

Faisal Islamic Bank of Egypt saw a 179.80% YoY surge in standalone net profit to EGP 6 billion in Q1-24 from EGP 2.14 billion.

The bank's consolidated net profits declined by 6.90% YoY to EGP 4.42 billion in 2023 from EGP 4.75 billion.

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