Faisal Islamic Bank: H1 profits 10% higher to 427 mln Egyptian pounds

Faisal Islamic Bank of Egypt reported a year-on-year surge of 10 percent in profits throughout the first half of the year, the bank said in a statement on Sunday.

Profits rose to 427.03 million Egyptian pounds ($48.1 million) in the first half of 2016, compared to 387.1 million recorded in the same period last year.

Meanwhile, net profit after tax recorded 152.23 million pounds in the second quarter of 2016, down from 190.2 million pounds in the same period of 2015.