Bank of Palestine continues its distinction and achieves an increase in its financial indicators with profit reaching 13.1 million dollars in the first quarter of 2015

Bank of Palestine announced total profit before tax deduction with the amount of 12,104,462 million dollars for the first quarter in the current year, in comparison with 12,543,622 dollars in the first quarter of 2014, with a growth rate of around 4.5%. The financial statements indicated an increase of the operating income of Bank of Palestine to reach 32,679,305 dollars in the first quarter of the current year, in comparison with 28,268,335 million dollars for the same period in the past year, with an increase rate of 15.6%.

The financial statements issued by the Bank and provided to the Palestine Exchange according to the provision of law and the disclosure instructions by the Exchange and Palestine Marker Capital Authority, indicated a growth in the Bank’s assets reaching 2.43 billion dollars, in comparison with 2.42 billion dollars by the end of 2014. Shareholders’ equity reached the value of approximately 289 million dollar by the end of the first quarter in 2015, in comparison with 280 million dollars in the end of 2014.

The financial statements for the first quarter of the current year also indicated a growth in credit facilitations, as the Bank increased provided credit facilitations to reach 1.25 billion dollars by the end of first quarter, in comparison with 1.15 billion dollars by the end of 2014.

Mr. Hashim Shawa, Bank of Palestine’s Chairman and General Manager, expressed his hope that the Bank remains as a leading financial institution that operates within a clear and sustainable vision in the Palestinian banking sector; Shawa added that in spite that the first quarter of the current year witnessed an economic decline due to the detention of the Palestinian Government funds and weakness in economic growth, yet the Bank witnessed improvement in its operating performance and financial transactions, emphasizing on the Bank’s goal to increase facilitations to provide the needed financing to all social segments and economic sectors, in addition to the projects that contribute to stimulating the national economy.


Shawa confirmed the Bank’s vision to support all economic sectors and micro, small and medium enterprises, in addition to empowering women through the development of financial tools that meet their needs and enhance their role, and encourage them to work and start their own businesses that generate income for them and their families, due to the Bank’s belief in equality and diversity in the work force.

Shawa also expressed his pride in the trust of Bank of Palestine’s customers, adding that the Bank’s adopted policy of expansion and spreading delivered its services to an increasing number of customers, which increased the volume of the financial transactions as well as the diversification of its services, and allowed the Bank to lead distinctive offers and campaigns in the Palestinian market.

Shawa added that this year is a special year for Bank of Palestine, as it celebrates its 55th anniversary since its establishment, indicating that the passing decades enhanced the Bank’s nobility, history and originality, as the Bank became a leader in its work, performance and development. He expressed his pride of the Bank’s staff and employees who proved high professionalism and commitment.

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