Egypt’s Faisal Islamic Bank business rises 12.5% in Oct.

Faisal Islamic Bank of Egypt on Sunday reported a 12.5 percent growth in its business volume in October, recording 92.18 billion pounds from 81.9 billion pounds.

The bank’s total assets rose by 12.4 percent to 90.5 billion pounds last month, versus 80.53 billion pounds in the year-ago period, according to a filing to the Egyptian Exchange (EGX).

Meanwhile, the Islamic lender’s current accounts and saving schemes increased by 11.5 percent at a value of 77.7 billion pounds.

The number of accounts managed by the bank reached 1.69 million accounts at the end of October.

It is worth noting that Faisal Islamic Bank of Egypt reported an 1.9 billion pounds in net profit for the first nine-month period of 2018, versus 1.1 billion pounds in the corresponding period of 2017.

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