Cairo – Mubasher: Faisal Islamic Bank of Egypt on Monday reported a growth in business volume by 11.3% year-on-year at the end of March 2018, recording EGP 85.8 billion from EGP 77.11 billion.
The bank’s total assets grew by 11.4% to EGP 84.5 billion last March, versus EGP 75.9 billion in the year-ago period, the bank said in a filing to the Egyptian Exchange (EGX).
The Islamic lender’s current accounts and saving schemes increased by 11.6% or EGP 72.5 billion, while liquidated assets rose 19.1% to EGP 4.88 billion.
The standalone financial indicators of the lender had previously shown a 76.9% year-on-year surge in profits for the first quarter of 2018, recording EGP 777.9 million from EGP 439.7 million.
Faisal Islamic Bank had also reported a 38.83% year-on-year drop in consolidated profits for 2017, with EGP 1.78 billion in net profit, compared to EGP 2.91 billion a year earlier
