Arab Finance: announced Faisal Islamic Bank of Egypt (FAIT)about business results indicators at the end of 2024, explained in statement The Egyptian Stock Exchange reported that business results at the end of October showed achieving a business volume of 232.135 billion pounds, compared to 223.565 billion pounds for the comparative period in October 2023, an increase of 3.8%.
The total assets of Faisal Bank at the end of last October amounted to 229.586 billion pounds, compared to an amount of assets that amounted to 219.531 billion pounds during the comparative period, with a change rate of 4.6%. The bank’s equity witnessed a growth of 48.1%, after it rose to 36.147 billion pounds, while the bank’s equity reached 36.147 billion pounds. Ownership as of 10/31/2023 amounted to 24.413 billion pounds.
The bank was established in 1979 and provides banking and investment services compatible with Islamic Sharia. The bank provides its services through three sectors: finance and investment, banking services, and investment trustee services. The Bank sets its sights on providing the necessary financing in various terms (short, medium and long) for all sectors of economic activity, giving special attention to productive sectors of vital importance to the national economy. The bank carries out financing activity through a variety of financing and investment forms, such as participation financing and Sharia Mudaraba.
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