The financial statements released by the Faisal Islamic Bank of Egypt have revealed that its financing of large and medium companies reached about EGP 10.553bn in March 2021.

The latest figures cover the first quarter (Q1) of 2021, and compare to the EGP 9.482bn it reported at the end of 2020. Meanwhile, the bank’s financing for small enterprises recorded about EGP 824.452m in March 2021, compared to EGP 877.8m in 2020.

The Faisal Islamic Bank’s financing for micro enterprises recorded about EGP 17.046m in March 2021, compared to EGP 18.165m in 2020.

Central Bank of Egypt (CBE) rules stipulate that the financing of micro, small, and medium enterprises (MSMEs) should account for about 25% of a bank’s credit portfolio by the end of 2022, and 10% for small enterprises. 

The total portfolio of shares, profits, and speculations covered by Faisal Islamic Bank amounted to EGP 10.820bn at the end of March 2021, compared to EGP 10.020bn in 2020.

Total revenues at Faisal Islamic Bank increased to record EGP 2.563bn in March 2021, compared to EGP 2.147bn in March 2020, reflecting a growth rate of 19.4%.

The bank’s financial data revealed that its total profit increased to EGP 1.255bn at the end of Q1 of 2021, compared to EGP 950.369m in the same quarter of the previous year, an increase of 32.1%.

The rate of the gross profit to revenue was about 49% in March 2021, compared to 44.3% in  March 2020.

The net profit before taxes from invested activities was about EGP 940.944m in March 2021. This compared to EGP 594.774m in March 2020, reflecting an increase of 58.2%.

The net profit after taxes was about EGP 537.565m in Q1 of 2021, compared to EGP 469.023m in the same quarter of 2020, an increase of 14.6%.

The bank’s total equity was about EGP 14.588bn in March 2021, compared to EGP 14.387bn in 2020.

The retail banking portfolio (individuals financing) at the Suez Canal Bank (SCB) recorded about EGP 1.33bn in March 2021, up from EGP 1.208bn in December 2020.

The SCB’s personal loan portfolio stood at about EGP 909.9m in March 2021, compared to EGP 842.8m in December 2020.

Meanwhile, its financial data revealed that the total debit current accounts amounted to EGP 393.037m by the end of March 2021, while credit card balances amounted to EGP 27.338m.

At the corporate level, the portfolio of joint loans and facilities recorded about EGP 6.844bn in March 2021, compared to EGP 6.506bn in 2020. The SCB’s portfolio of customer loans and facilities increased to about EGP 19.311bn by the end of March 2021, compared to EGP 17.768bn by the end of 2020.

Customer deposits at the bank reached EGP 45.887bn in March 2021, compared to EGP 44.343bn in 2020. 

Meanwhile, its total assets increased by EGP 56.227bn in March 2021, compared to EGP 54.319bn in 2020.

The SCB reported that its paid-up capital increased from EGP 2bn in 2020, compared to EGP 2.2bn in March 2021.

The bank’s equity recorded about EGP 52.371bn in March 2021, compared to EGP 50.451bn in 2020.

It achieved a net profit of EGP 115.719m in March 2021, compared to EGP 114.350m in March 2020.

The SCB’s profits before income taxes were recorded at EGP 236.081m in March 2021, compared to EGP 230.462m in March 2020.

The return on loans and similar revenues reached EGP 1.038bn in March 2021, compared to EGP 1.134bn in March 2020.

The net income from revenue, fees, and commissions was recorded at EGP 439.613m in March 2021, compared to EGP 422.216m in March 2020.