August 24, 2020

Faisal Islamic Bank reports 12.1% asset growth to EGP 108.701bn in July

Bank’s retail banking portfolio amounted to about EGP 1.205bn in June 2020

The Faisal Islamic Bank of Egypt has recorded a 12.1% increase in its total assets to about EGP 108.701bn at the end of July 2020, compared to EGP 96.973bn in July 2019.

In a statement to the Egyptian Exchange (EGX), the bank said its business volume increased 8.9% to EGP 111.875bn in July 2020, compared to EGP 102.74bn in July 2019.

The total number of current accounts and saving vessels with the bank amounted to about EGP 92.571bn, compared to EGP 81.910bn, an increase of 13%.

The bank’s total equity was recorded at about EGP 13.844bn in July 2020, compared to EGP 12.733bn in the comparison period last year.

The bank’s business results revealed that total employment and investment balances rose to about EGP 99.081bn in July 2020, compared to EGP 89.200bn in July 2019.

The bank revealed that the total automotive financing it provides increased to about EGP 423.2m in June 2020, compared to about EGP 415m at the end of 2019.

The bank’s financing to the real estate financing sector amounted to about EGP 498.3m in June 2020, compared to EGP 441.1bn in June 2019. At the same time, the bank’s financing for durable goods recorded about EGP 86m in June 2020 compared to EGP 138m.

The bank’s financial statements revealed that the bank’s total employee loans recorded EGP 197.7m in June 2020, compared to EGP 184.2m at the end of 2019.

The bank’s total retail banking portfolio was about EGP 1.205bn in June 2020, compared to EGP 1.17bn at the end of 2019. Its total shares and murabahah contracts for customers scored about EGP 9.11bn, compared to EGP 9.6bn.


Categories : islamic finance

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