Faisal Islamic Bank Egypt’s standalone profit down 9.35% YoY in 2023

Reuters

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 Egypt

Staff Writer, Arab Finance

February 6, 2024

PHOTO

Faisal Islamic Bank of Egypt’s (FAIT) standalone net profit dropped 9.35% year-on-year (YoY) for the period ended December 30th, 2023, according to the company’s financial statement sent to the Egyptian Exchange (EGX).

The company reported a standalone net profit after tax of EGP 4.056 billion in 2023, compared to EGP 4.475 billion in 2022.

Net interest income hit EGP 5.950 billion, up from EGP 4.423 billion.

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