Faisal Islamic Bank-Egypt says net profit rises 20.8% at 2015-end

Faisal Islamic Bank of Egypt reported a 20.8 percent year-on-year growth in net profit by end of December 2015, the bank said in a statement Sunday.

Net profit hit 752.59 million Egyptian pounds (US$96 million) by end of December 2015, compared to 623.19 million pounds in the same period a year earlier.

Additionally, the bank’s financial statements showed that the total profits registered 1.9 billion pounds by end of 2015, 16.2 percent higher than 1.6 billion pounds in the same period in 2014.

Revenues registered 4.48 billion pounds in 2015, compared to 3.77 billion pounds in 2014, marking an 18.9 percent increase.

Earlier this month, The Banker, a Financial Times publication, has featured 16 Egyptian lenders in its 2016 ranking of Top 100 African Banks, in which Faisal Islamic Bank of Egypt ranked 60th.

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