Egypt's Faisal Islamic Bank records $7.15bln in business volume during August

The Faisal Islamic Bank of Egypt has reported a 9.3% increase in its volume of business to EGP 112.751bn in August 2020, compared to EGP 103.149bn in August 2019.

According to a statement the bank sent to the Egyptian Exchange (EGX) on Tuesday, the bank’s total assets reached EGP 109.713bn in August 2020. This reflected a 13% growth compared to the EGP 97.124bn reported in August 2019.

The bank’s total current and saving accounts reached about EGP 93.083bn in August 2020, compared to EGP 81.905bn in the same period in 2019, reflecting a 13.6% growth. The volume of employment and investment balances reached EGP 100.314bn in August 2020, reflecting a 12.1% growth on the EGP 89.489bn of August 2019.