Faisal Bank grows 25.15% on First Bank’s Composite Growth Index during-22

Faisal Islamic Bank of Egypt recorded a composite growth rate of 25.15% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio by the end of December 2022, according to its latest separated financial results.

This rate was measured through a composite growth index developed by First Bank to identify the financial performance of banks with a single figure during 2022.

Faisal Islamic Bank was able to achieve positive results in all four sub-indicators which formulated First Bank composite growth index, led by net profit that recorded a growth rate of 66.88% during 2022 to record EGP 4.48 billion at December 2022 compared to EGP 2.68 billion at the end of December 2021; with an increase EGP 1.79billion

Moreover, the assets portfolio come second as it jumped by 15.77% to record EGP 151.64 billion pounds at the end of 2022, compared to EGP 130.98 billion by the end of December 2021 with an increase of EGP 20.65 billion.

Furthermore, the total deposits portfolio recorded a growth rate of 12.84% posted 123.63 billion Egyptian pounds by the end of 2022 in comparison to 109.56 billion Egyptian pounds by the end of 2021 with growth amounting to EGP 14.07 billion.

However, the Murabaha and Mudarabah portfolio Jumped by 5.20% To recorded 14.55 billion Egyptian pounds by the end of 2022 in comparison to 13.83 billion Egyptian pounds by the end of 2021 growing by EGP 718million,