Arab Finance: Faisal Islamic Bank of Egypt (FAIT) posted a 16.6% year-on-year (YoY) increase in business volume at the end of December 2023, according to the indicators filed to the Egyptian Exchange (EGX) on January 22^nd.

The bank’s business volume came in at EGP 180.034 billion at the end of December, compared to EGP 154.424 billion in December 2022.

Total assets grew by 16.7% YoY to EGP 176.962 billion last December, compared to EGP 151.637 billion in the same month of 2022.

The number of customers’ accounts went up by 2% YoY to EGP 2.005 billion in December from EGP 1.964 billion in the corresponding month last year.

Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services in accordance with Islamic Sharia principles through its head office and 27 branches located across the country.

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