Faisal Islamic Bank’s business volume increases 10% during September

Faisal Islamic Bank of Egypt increased 10.7 percent recording a year-on-year (YoY) growth in its business volume, according to the bank’s financial indicators.

The bank registered a business volume of 114.68 billion Egyptian pounds at the end of last September, compared to 103.62 billion pounds.

The Islamic lender’s assets rose to 110.79 billion pounds in September from 97.74 billion pounds in the same month a year earlier, according to a statement

Additionally, the current accounts and savings schemes managed by Faisal Islamic Bank increased to 93.88 billion pounds.

The number of current accounts and savings schemes ran by the bank registered 1.78 million, compared to 1.7 million in September 2019.

During the first nine months of 2020, the bank logged standalone net profits of 1.3 billion pounds, down from 2.05 billion pounds in the prior-year period.