Faisal Islamic Bank’s consolidated profits rise 49% YoY in 9 months: Egypt

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

Staff Writer, Arab Finance

November 13, 2023

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Faisal Islamic Bank of Egypt (FAIT) reported a 48.6% year-on-year (YoY) increase in net profits after tax and non-controlling interest for the first nine months of 2023, according to the financial indicators filed to the Egyptian Exchange (EGX) on November 12th.

Net profits amounted to EGP 3.788 billion in the period from January to September, up from EGP 2.549 billion in the year-ago period.

Meanwhile, revenues rose by 35.7% YoY to EGP 17.194 billion at the end of September 2023, from EGP 12.673 billion.

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 country.

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