Faisal Bank Leads in Financial Investments Focus During Q1-2023

Faisal Islamic Bank has topped the list of banks with the highest focus on financial investments and t-bonds, surpassing First Bank, as its total financial investments accounted for 58.89% of its total asset portfolio by the end of March 2023.

Total financial investments increased by around 4.20%, reaching EGP97.79 bn by the end of Q1 2023, compared to EGP93.85 bn by the end of 2022, marking a growth of EGP3.94 bn.

The asset portfolio jumped from EGP151.64 bn at the end of 2022 to EGP166 bn by the end of March 2023, representing a growth rate of 9.51% and an increase of EGP14.42 bn.

Overall, Faisal Islamic Bank has achieved a strong performance in the current year, with its net profits rising to EGP2.15 bn during Q1 2023, compared to EGP1.19 bn in the same period of 2022, showing a growth rate of 80.57% and an increase of EGP957.34 mn.

The bank's total customer financing increased from EGP14.55 bn at the end of 2022 to EGP15.29 bn by the end of Q1 2023, with a growth rate of 5.15% and an increase of EGP748.63 mn.

The portfolio of savings accounts and certificates of deposit also saw a rise, increasing from EGP123.63 bn at the end of 2022 to EGP131.64 bn by the end of March 2023, with a growth rate of 6.49% and an increase of EGP8.02 bn.