Faisal Bank Maintains its lead among listed banks in terms of Capital Adequacy Ratio by June 2023End

Faisal Islamic Bank of Egypt topped First Bank list in capital adequacy ratio (CAR), at a rate of 24.13%, maintaining its lead for listed banks on this index by June 2023End.

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 12.42% by the end of H1- 2023, 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 2.6% by end of June 2023, compared to 2.9% at the end of 2022.

Overall, The bank’s net profit Jumped by 54.65%, to record EGP 2.70 bn in H1- 2023, compared to EGP 1.75 bn during same period in 2022, with an increase of EGP 954.82 bn.

savings pools portfolio and savings certificates increased to EGP132.59bn By June-2023End compared to EGP123.63 bn at the end of 2022, achieving a growth rate of 7.25%, and an increase of EGP 8.96bn.

In addition, the bank’s asset portfolio Surged to 11.77%, Recording EGP 169.48 bn by June 2023end, compared to EGP151.64 bn by the end of 2022, an increase of EGP 17.85 bn.