80.6% increase in the profits of “Faisal Islamic” in the first quarter of 2023 AD

Fathi Al-Sayeh

revealed the results of Faisal Islamic Bank during the first quarter of the year The ongoing report achieved a net profit after taxes of about 2.131 billion EGP, an increase from what it was. In the corresponding period of the year 957 in the amount of 957 million EGP and its rate is 61. 6%, as operating revenues increased in the rate of 17% to reach 1.568 billion pounds compared to 1.211 billion pounds during the first quarter of the previous year as a result of the increase in net income from the return by 23.7% to reach 1.340 billion pounds compared to 1. 211 billion pounds Net income from fees and commissions increased by 86. 3%, to reach 86. Million EGP vs. 80. 2 million EGP.
2030 Commenting on these results, Mr. Abdul Hameed Abu Musa – Governor of the Bank – confirmed that what was achieved until the end of March m) reflects the success of the business plan pursued by the bank’s management in facing local and global economic challenges and dealing with high efficiency and professionalism with their developments throughout the year so that our bank continues to seize available investment opportunities while providing competitive digital products and services that suit all customer segments that enabled it to achieve a rate of A return on assets amounted to 1.3% and a rate of return on equity amounted to 9.1% … and the bank succeeded in reaching the volume of its business to 146.2 billion pounds in 31//2023 M. As for the funds under management represented in the total customer deposits, containers and savings certificates, they It came at the end of March with the equivalent of 131. 6 billion pounds, distributed among approximately 2 million An account managed by the bank for the benefit of customers.
2030 The governor has noted the importance of state institutions coming together in order to overcome the economic crisis The country is going through and praised his sovereignty for the measures taken to improve the business environment and increase local and foreign investments in a way that contributes to strengthening the role of the private sector in economic activity to lead the sustainable development process targeted by the state according to its vision 2022 M, referring to the effective role played by the banking sector in supporting the growth of the Egyptian economy through the funds it provides to the various sectors of economic activity, which totaled 4. 094 One trillion pounds at the end of a year 957 with an increase 32. 1% for a year 2021 M… The Governor indicated that Faisal Bank expanded in granting many funds to projects in the fields of industry, oil, electricity, building materials, contracting, real estate development, and food… to reach employment balances And investment in the bank to 131. 6 billion EGP at the end of March 2023M. With regard to small, medium and micro enterprises, the Bank succeeded in reaching the percentage of financing for these projects to 29.83% of the total portfolio vs. 29% is a minimum set by the Central Bank. As for small projects only, the percentage of funds granted to them is 17.61% Opposite 10% is a set minimum, and given that the investment expansion was disciplined and deliberate, the proportion of irregular financing to the total portfolio declined Financing to record 2.6% at the end of March 2023… Our bank also achieved a significant increase in the property rights item, amounting to 8% to reach LE 6 billion at the end of March AD compared to the end of the year AD).
2030 The Governor explained that the administration is always keen on fully complying with the regulatory rules established by the Central Bank of Egypt, and in particular the capital adequacy standards, The risk-based capital adequacy ratio at the end of March recorded 957 towards 29, 5% against a regulatory minimum 16, 5%, either The criterion that is not dependent on risk is “financial leverage”, as it came about 16, 3% compared to 3% as a minimum prescribed.
20230523 In the file of financial inclusion and digital transformation, Abu Musa stated that the bank participated in the activities of Women’s Day and the Arab Day of Financial Inclusion by being outside the branch headquarters to open accounts and promote the various services and products offered by the bank to its customers, especially the accounts of youth and Bab Rizq With the holding of educational seminars for students in the universities of Tanta, the future, Cairo and Menoufia, and the bank signed a cooperation protocol with the University of the future that included a number of axes based on spreading financial culture among students and providing summer training for the distinguished among them with an introduction to the most important banking services and products that the bank provides to its customers. Signing a number of similar cooperation protocols with the Universities of Alexandria and Beni Suef… The bank launched the online purchase service to add to the group of distinguished banking services that it provides to its customers. A product to finance the purchase of a scooter through Islamic Murabaha. Through the bank’s expansion policy and the geographical spread of its units throughout the Republic, bringing the total number of branches to 41 branches covering most of the governorates of the Republic and the main cities… The bank also added 17 a new ATM during the first three months of this year, bringing the number of machines to 567 A machine spread in the best vital places, equipped and equipped with the latest technological technologies, and provides withdrawal, deposit and cash transfer services, with the addition of the automatic teller machine (ATM) service at 60 A machine distributed throughout the Republic to serve people of determination with visual impairments.
2030 With regard to social responsibility, the Governor stated that Faisal Al-Islami has the leadership in this file at the level of the units of the banking system, as he gives it utmost importance due to Because it is linked to the initiatives and activities of a social nature that are directed to the poor and the needy in need of care to help them bear the living conditions in light of the inflationary trends that the country is experiencing, and accordingly the bank has expanded in performing its positive role in society by participating in many activities and initiatives related to health, education and social solidarity through The Zakat Fund whose total resources at the end of April 2030 amounted to about 1. 169 billion pounds.