Earnings Report /
Egypt

Faisal Islamic Bank of Egypt: 1Q21 bottom-line comes in weak; lending momentum starts to pick

  • Weak quarterly earnings on weak top-line, lower non-funded income, and higher effective tax rate

  • Despite improved efficiency and lower impairments, bottom-line comes in weak

  • FAIT’s lending momentum starts to pick up; Maintain Equalweight on the questionable operational performance

Bassma Bakry
Al Ahly Pharos Securities Brokerage
15 June 2021