Faisal Bank’s financial efficiency indicators evolution At 9M-2023
First Bank
Faisal Islamic Bank has achieved progress in its financial efficiency indicators during the first 9 months of last year, The following analysis highlights bank's development in financial efficiency indicators from January to September 2023.
The separate financial statements of Faisal Islamic Bank, ending on September 30 2023, revealed that the bank achieved a return on average equity (ROE) of 15.10% during the first 9M- 2023, compared to 12.95% during the same period in 2022.
The return on average assets of the bank was 2.15% during the first 9 months of 2023, compared to 1.68% during the first 9 months of 2022.
The main reason for the increase in ROE and ROA is the bank's net profits increase with a growth rate of 51.4%, reaching EGP 3.47 bn during the first 9M- 2023, compared to EGP 2.29 bn during the same period in 2022, an increase of EGP 1.18 bn.
In terms of earnings per share, the bank recorded a growth rate of 53.4% during the period from January to September 2023, with the bank's share of net profits reaching about EGP 5.415 per share during the first 9 months of 2023, compared to EGP 3.530 during the same period in 2022.
It is worth mentioning that the bank achieved a growth of 9.4% in its Equity portfolio during the first 9M-2023, as it increased from EGP 21.96 bn at the end of December 2022 to EGP 24.02 bn at the end of September 2023.
The bank's asset portfolio also increased by 13% during the first 9M of the last year, reaching EGP 170.95 bn at the end of September 2023, compared to EGP 151.64 bn at the end of December 2022. For more info and news about Faisal Bank, click on "Read More."
