Faisal Islamic Bank posts 8.6% increase in consolidated profit during 2019

Faisal Islamic Bank of Egypt posts an 8.6 percent year-on-year (YoY) increase in its net profits during 2019, according to its consolidated financial results.

The Islamic lender achieved net profits of 2.78 billion Egyptian pounds last year, up from 2.56 billion pounds in 2018, including minority shareholders’ rights.

Meanwhile, the bank’s net interest income rose to 4.4 billion pounds in 2019, compared to 3.957 billion pounds in the prior year.

It is noteworthy to mention that the bank’s unaudited standalone financial results reported net profits of 2.71 billion pounds , up from  2.51 billion pounds a year earlier.