Egypt’s Faisal Islamic Bank business volume rises 13.8% by May-end

Faisal Islamic Bank of Egypt reported on Wednesday a 13.8 percent growth in its business volume to record 97.47 billion Egyptian pounds ($5.8 billion) at the end of May from 85.67 billion pounds last year.

The bank’s total assets increased 13.5 percent to 95.86 billion pounds during May against 84.44 billion pounds during the same month in 2018, according to a bourse filling.

The Islamic lender’s current accounts and saving schemes rose 11.3 percent to 81.2 billion pounds in the fifth month of 2019, while investment balances rose 13.8 percent to 88.67 billion pounds.

Meanwhile, the number of current accounts and saving schemes managed by the bank reached 1.661 million.