Cairo - Mubasher: The financial statements of Faisal Islamic Bank of Egypt showed a surge in profits in the fourth quarter of 2016 by 1,233% year-on-year, as it achieved foreign exchange gains of EGP 1.5 billion.
The bank said in a statement to the Egyptian Exchange (EGX) on Monday that it has achieved profits of EGP 1.8 billion in Q4-16 compared to EGP 135.3 million in the same period of the year before.
As for the annual profits of last year, it grew by 271% to EGP 2.9 billion up from EGP 781.9 million in 2015, the statement noted.
