Faisal Bank tops listed banks in terms of Capital Adequacy Ratio by end of 2022

Faisal Islamic Bank was able to continue its strong  Financial soundness index during 2022, as the bank topped First Bank list with capital adequacy ratio-CAR of 29.01% at the end of last year.

Faisal Islamic Bank has strong financial soundness index in general, as the financial leverage ratio, which reflects the relationship between the first tranche of capital used in CAR (after exclusions), and the bank's assets (inside and outside the balance sheet) unweighted with risk weights reached 11.34% by the end of 2022, exceeding the regulatory limit set by the Central Bank of Egypt according to Basel decisions, 3%.

 non-performing loans to total loans ratio, the bank succeeded in reducing it to 2.9% by the end of 2022, compared to the banking sector average of 3.2% at the end of last September, according to the latest Central Bank of Egypt bulletin.

Asset Coverage ratio for deposits , which expresses the bank’s ability to cover its customers’ deposits using its asset portfolio, reached 122.66% by the end of 2022, after its asset portfolio recorded EGP 151.64 bn, while the bank’s customer deposits portfolio reached EGP 123.63 bn at the end of the same period.

 The bank’s net profit increased by 66.80%, to record EGP 4.48 bn in 2022, compared to EGP2.68 bn in 2021, an increase of EGP1.79 bn.

The number of customer accounts increased by 3.3% year on year, to reach EGP1.965 mn customers by the end of 2022, compared to EGP1.902 mn customers by the end of 2021.

savings pools portfolio and savings certificates increased from EGP109.560 bn at the end of 2021 to EGP123.63 bn at the end of 2022, achieving a growth rate of 12.84%, and an increase of EGP14.07 bn.

Total financial investments jumped from EGP84.52 bn at the end of 2021, compared to EGP93.85 bn at the end of 2022, achieving a growth rate of 11.04%, and an increase of EGP9.33 bn.

The bank’s asset portfolio increased by 15.77%, to reach EGP 151.637 bn by the end of 2022, compared to EGL130.982 bn by the end of 2021, an increase of EGP20.65 bn.

Murabaha and Mudarabah rose by 5.20%, to record EGP14.55 bn at the end of 2022, compared to EGP13.83 bn at the end of 2021, an increase of EGP718.41 bn.