Faisal Islamic Bank Of Egypt’s Finances Hit EGP 3.3 Bln At End-March

The value of Musharaka, Murabaha and Mudaraba offered by Faisal Islamic Bank of Egypt surged 3.5% (EGP 115.2 million) to reach EGP 3.3 billion at the end of last March, compared to EGP 3.2 billion at the end of 2012.

The bank’s financial statements showed that the volume of its savings pools and certificates rose 4.5% (EGP 1.6 billion) to reach EGP 38.9 billion at the end of last March, compared to EGP 37.2 billion at the end of last year.

The value of the bank’s assets reached EGP 43.1 billion at the end of last March, compared to EGP 41.08 billion at the end of 2012, registering a growth rate of 5% (EGP 2.07 billion).

The bank’s net profit rose 44.3% (EGP 53.4 million) to reach EGP 174.02 million at the end of the first quarter of 2013, compared to EGP 120.5 million at the end of the first quarter of 2012.