According to Al Alam Al Youm, Faisal Islamic Bank [FAITA.CA] will target a dividend payout ratio of 10% in 2016 as per its budget for the year. The bank had also distributed 10% of its earnings after zakat payment in 2015, representing EGP229.4 million. According to the new budget, the bank targets 8.8% Y-o-Y growth in deposits and saving instruments and increasing the utilisation of balance sheet liquidity by 9% Y-o-Y. (Al Alam Al Youm) Faisal Islamic Bank of Egypt: EGP1.44 as of 8 February 2016, Rating: Buy, FV: EGP1.82 per share, MCap: USD331 million, FAITA EY / FAITA.CA
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