Faisal Islamic bank’s net profit jumps by 63.6% at H2-22

Faisal Islamic Bank of Egypt’s financial results showed that net profit increased by 63.55%, to record 2.728 billion pounds during the second half of 2022, compared to 1.668 billion during the same period in 2021, an increase of 1.06 billion pounds. 

The bank's net profit jumped during the past year by 66.80%, to record EGP 4.475 billion in 2022, compared to EGP 2.683 billion in 2021.

While profits before income tax increased by 40.17% over the past year, to record 6.095 billion pounds in 2022, compared to 4.348 billion in 2021.

The bank's asset portfolio increased by a growth rate of 15.77% over the past year, to record EGP 151.6 billion at the end of December 2022, compared to EGP 131 billion at the end of December 2021, an increase of EGP 20.6 billion.

The savings vessels portfolio and certificates also increased from EGP 109.6 billion at the end of December 2021 to EGP 123.6 billion at the end of December 2022, achieving a growth rate of 12.84%, and an increase of EGP 14.1 billion.

The bank’s total Murabaha, and Mudarabah portfolio increased by 5.20% over the past year, to record EGP 14.546 billion at the end of December 2022, compared to EGP 13.827 billion at the end of December 2021, achieving an increase of EGP 719 million.