Faisal Islamic Bank of Egypt’s (FAIT) consolidated net profits after tax and non-controlling interest dropped 6.9% year on year (YoY) in 2023 to EGP 4.429 billion, compared to EGP 4.757 billion, the bank stated.

However, sales surged to EGP 4.517 billion last year from EGP 3.263 billion a year earlier.

The bank reported earlier that its standalone net profits after tax dropped 9.35% YoY to EGP 4.056 billion in 2023, versus to EGP 4.475 billion in 2022.

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.

© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).