Faisal Bank Reports EGP 283 Mln Net Profit In H1

Faisal Islamic Bank of Egypt reported net profit of EGP 283.6 million at the end of June 2012, up from EGP 152.9 million at the end of 2011, with an increase of EGP 130.7 million.

The total value of musharaka, murabaha and mudaraba transactions at the bank declined by EGP 129 million, registering EGP 3.220 billion at the end of the first half of 2012, down from EGP 3.349 billion at the end of 2011.

The bank’s unconsolidated results revealed an increase of EGP 2.17 billion in the value of savings certificates and accounts as it stood at EGP 34.308 billion at the end of last June, up from EGP 32.130 billion at the end of 2011.

The bank’s investments in affiliated and subsidiary companies rose to EGP 860.5 million at the end of last June, from EGP 761.5 million at the end of 2011, with an increase of 99 million.

The bank’s balances held at the Central Bank of Egypt (CBE) registered EGP 2.783 billion at the end of last June, down from EGP 3.391 billion at the end of 2011, while the bank’s balances held at other banks reached EGP 3.801 billion at the end of June 2012, down from EGP 5.146 billion at the end of 2011.