Faisal Bank’s Net Profit Hit EGP 635.7 Mln At End-2012

Faisal Islamic Bank of Egypt’s net profit rose 224.8% (EGP 440.02 million) to reach EGP 635.7 million at the end of 2012, compared to EGP 195.7 million at the end of 2011.

The bank’s consolidated financial statements showed that the bank’s investments in government securities surged 140.3% (EGP 8.9 billion) to reach EGP 15.2 billion at the end of 2012, compared to EGP 6.3 billion at the end of 2011.

The value of the bank’s musharaka, murabaha and mudaraba finances offered to customers fell 3.7% (EGP 111 million) to reach EGP 2.8 billion at the end of 2012, compared to EGP 2.9 billion at the end of 2011.

The value of the bank’s assets registered EGP 42.3 billion at the end of 2012, compared to EGP 36.1 billion at the end of 2011, registering an increase of 17.1% (EGP 6.2 billion).