Faisal Islamic Bank posts LE 715M in FY16/17

CAIRO – 16 July 2017: The profits of Faisal Islamic Bank of Egypt hiked 67.3 percent year-on-year to LE 714.6 million ($39.7 million) after taxes in the fiscal year 2016/2017 from LE 427 million, a Sunday’s statement read.

The standout results showed that Earning Per Share (EPS) surged 71.5 percent to LE 1.88, up from LE 1.10 in the same period of the fiscal year ended on June 30, 2016.

The bank attributed the increase in profits to higher revenues achieved in June 2017 year-on-year, in addition to the rise in the exchange rate of the foreign currencies; the U.S.
dollar registered LE 18.1 in June 2017 from LE 8.8 in June 2016.

The Extraordinary General Meeting (EGM) of the bank approved amending Article 7 of the bank’s articles of association to be in line with the capital increase.