Cairo – Mubasher: Faisal Islamic Bank of Egypt on Wednesday reported a 9% year-on-year rise in consolidated profits for the first nine months of 2017 due to higher revenues and sales.
Net profit stood at EGP 1.21 billion in the nine-month period ended September 2017, up from EGP 1.11 billion in the prior-year period, including minority shareholders’ rights, the bank highlighted in a filing to the Egyptian Exchange (EGX).
Net income from sales grew to EGP 3.69 billion in the nine-month period of 2017, compared to EGP 2.46 billion in the corresponding period of 2016.
The standalone financial indicators of Faisal Islamic Bank of Egypt showed a 28% year-on-year surge in profits for the nine-month period ended September 2017, due to higher revenues.
Standalone profits amounted to EGP 1.1 billion in the January-September 2017 period from EGP 892.8 million in the year-ago period.
