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TIC posts net income of $0.48 million in Q1 2014

2014-04-30

According to Al-Takaful Palestinian Insurance Company TIC data for the first three months of the year, net profit after taxes reached 487,131 USD, compared with a net loss of (304,813) USD from the first three months of 2013. Total assets of the company reached 25,267,276 USD as of March 31^st, 2014, compared to total assets of 23,997,002 USD as of December 31^st, 2013, a net increase of 5.3%. Total liabilities of the company reached 15,477,004 USD as of March 31^st, 2014, compared to total liabilities of 13,553,443 USD as of December 31^st, 2013, a net increase of 14.2%. Net ownership equity of the company reached 9,790,272 USD as of March 31^st, 2014, compared with a net ownership equity of 10,443,559 USD as of December 31^st, 2013, a net decrease of 6.3% in the first three months.