Cairo – Mubasher: Faisal Islamic Bank of Egypt on Tuesday reported a 9.9% growth in its business at the end of December 2017.
Business volume amounted to EGP 83.9 billion at the end of December 2017, up from EGP 76.3 billion in the same period a year earlier, the bank added in a filing to the Egyptian Exchange (EGX).
Total assets rose by 10.2% year-on-year to EGP 82.6 billion in December 2017 from EGP 74.9 billion the year before.
Current accounts and saving schemes have increased to achieve a growth rate of 10.9% at a value of EGP 71.12 billion, while liquid assets surged 14% to EGP 4.7 billion.
Last week, the Islamic lender posted a 40% year-on-year drop in its standalone profits for 2017 due to a decline in revenues.
Given that the bank's standalone profits amounted to EGP 1.7 billion in 2017, compared to EGP 2.8 billion in 2016.
