Faisal Islamic Bank posts 1.17bln personal loans by 2019 end

Faisal Islamic Bank of Egypt posts personal loans of 1.17 billion Egyptian billion pounds by the end of 2019  compared to 1.168 billion pounds by the end of 2018.

The Islamic lender’s vehicle loans recorded 415.034 million pounds by the end of 2019, compared to 386.2 million pounds by the end of 2018.

While the bank has pumped mortgage loans of 441.1 million pounds by the end of 2019 in comparison to 386.2 million pounds by the end of 2018. However, the bank has pumped loans of 138 million pounds into durable goods.

on the other hand, Faisal Islamic Bank of Egypt announced its unaudited independent business results for the fiscal year ending in December 2019, which showed a net profit of 2.714 billion pounds against 2.519 billion pounds for the same period in the previous year, an increase of 7.8 percent.

A total of 14 banks are providing Islamic banking products in Egypt, including three full-fledged Islamic banks; namely, Faisal Islamic Bank of Egypt (FAIT), Al Baraka Bank – Egypt, and Abu Dhabi Islamic Bank – Egypt.

There are 231 Islamic banking branches serving about 3 million customers in Egypt.