Egypt’s Faisal Islamic Bank H1 net profit grows 28.5%

Faisal Islamic Bank of Egypt reported on Thursday a 28.5 percent year-on-year growth in net profit after tax for the first quarter of the year.

Net profit after tax recorded 1.017 billion Egyptian pounds ($64.7 million) at the end of June 2021 from 791.639 million pounds in the same period last year.

Total profits rose 29.5 percent year-on-year to around 2.520 billion pounds at the end of June 2021, compared with 1.946 billion pounds at the end of June 2020.

Paid-up capital also increased to 5.677 billion pounds from 4.086 billion pounds last year.