Faisal Islamic Bank records 51.4% YoY standalone profit surge in 9 months: Egypt

Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services per Islamic Sharia principles

Staff Writer, Arab Finance

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Faisal Islamic Bank of Egypt (FAIT) posted a 51.4% year-on-year (YoY) surge in standalone profit after tax during the first nine months of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on October 9th.

The company’s standalone profit after tax jumped to EGP 3.472 billion in nine months to September 30th from EGP 2.293 billion the year before.

Revenues soared by 37.1% to EGP 14.076 billion in January-September from EGP 10.269 billion a year earlier.

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

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