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Palestine Commercial Bank PCB achieved a pretax income of $0.13 million in the first nine months of 2012

2012-10-18

The Palestine Exchange (PEX) received the unaudited interim condensed financial statements from Palestine Commercial Bank Company ( PCB). PEX disclosure rules give all PEX listed companies one month to report their third quarter interim financial statements as reviewed by the company’s internal auditor. In addition to this press release, this disclosure was published on the PEX website (www.pex.ps) and emailed to PEX member securities firms.

The disclosed information includes: the Statement of Financial Position, the Income Statement, the Statement of Comprehensive Income, Changes in Equity Ownership, and the Statement of Cash Flows. The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the Banking & Financial Services Sector. The interim report should also include information required by Article (37/2) of the PEX disclosure rules in place. The company included information regarding management, issued shares, material changes and significant events that may have affected financial performances during the first nine months of the year.

According to company data for the first nine months of the year, net profit before taxes reached 126,480 USD, compared with a net profit before taxes of 754,809 USD from the first nine months of 2011, a net decrease of 83.2%. Total assets of the company reached 186,505,065 USD as of September 30th, 2012, compared to total assets of 168,803,636 USD as of December 31st, 2011, a net increase of 10.5%. Total liabilities of the company reached 158,319,576 USD as of September 30th, 2012, compared to total liabilities of 140,737,181 USD as of December 31st, 2011, a net increase of 12.5%. Net ownership equity of the company reached 28,185,489 USD as of September 30th, 2012, compared with a net ownership equity of 28,066,455 USD as of December 31st, 2011, a net increase of 0.42% in the first nine months.

 

 

 


 

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