A Record Jump In Net Profits Of Islamic Banks During 2022

Islamic banks (ADIB Egypt, Faisal Bank and alBaraka Bank ) achieved a strong performance during 2022,  to jump their combined net profits by 60.84%, recording EGP8.36 bn in 2022, compared to EGP5.2 bn in 2021, an increase of EGP3.16 bn.

The fastest growing Islamic bank during 2022 was Faisal Islamic Bank,  its net profit jumped by 66.80%, to record EGP4.48 bn in 2022, compared to EGP2.68 bn  in 2021, an increase of EGP1.79 bn .

While alBaraka Bank's net profits increased by 55%, to record EGP1.76 bn in 2022, compared to EGP 1.13 bn in 2021, an increase of EGP622.65 mn.

Abu Dhabi Islamic Bank's net profits jumped to EGP2.13 bn in 2022, compared to EGP1.38 bn in 2021, achieving a growth rate of 54.05%, and an increase of EGP745.81 mn .