Faisal Islamic Bank's business volume up 29% YoY in July

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Faisal Islamic Bank of Egypt (FAIT) reported a 29% year-on-year (YoY) increase in business volume at the end of July 2024, hitting EGP 225.120 billion, compared to EGP 174.456 billion, the bank stated.

Total assets grew by 29.4% YoY to EGP 221.544 billion last July, versus EGP 171.261 billion in June 2023.

The number of customers’ accounts inched up 1.7% YoY to EGP 2.018 billion in July from EGP 1.985 billion in the same month a year ago.

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 branches located across the country.