Faisal Islamic Bank has topped the list of First Bank for listed banks with the highest focus on financial inv

Analysis

Faisal Bank Tops Listed Banks in Focusing on Financial Investments

6/13/2023 9:35:00 AM

Faisal Islamic Bank has topped the list of First Bank for listed banks with the highest focus on financial investments, with highest relative weight of 58.89% of the bank's total assets by the end of March 2023.

Faisal Islamic Bank maintained its position, also ranking first on Faisal Islamic Bank's list of banks with the highest focus on financial investments at the end of 2021.

Total financial investments increased by about 4.20% to reach EGP 97.79 bn at the end of the first quarter of 2023, compared to EGP 93.85 bn at the end of 2022, representing an increase of EGP 3.94 bn.

Faisal Bank achieved a good performance during the current year, recording a net profit of EGP 2.15 bn during the first quarter of 2023, compared to EGP 1.19 bn during the same period in 2022, with a growth rate of 80.57% and an increase of EGP 957.34 mn.

Asset portfolio increased from EGP 151.64 bn at the end of 2022 to EGP 166.06 bn at the end of March 2023, with a growth rate of 9.51% and an increase of EGP 14.42 bn.

Savings pools and savings certificates jumped from EGP 123.63 bn at the end of 2022 to EGP 131.64 bn at the end of March 2023, with a growth rate of 6.49% and an increase of EGP 8.02 bn.

The bank's total customer financing increased from EGP 14.55 bn at the end of 2022 to EGP 15.29 bn at the end of the first quarter of 2023, with a growth rate of 5.15% and an increase of EGP 748.63 mn.