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ISBK reports net income of $3.61 million in H1 2020

2020-08-31

According to the financial statements of Palestine Islamic Bank ISBK for the first half of 2020, Net profit after tax of the period reached 3,608,002 USD Compared with Net profit after tax 5,968,187 USD for 2019, a net decrease in profit of 39.55%.Total assets of the company reached 1,291,267,859 USD compared with total assets of 1,318,413,322 USD at the end of year 2019, a net decrease of 2.06%.Total liabilities of the company reached 1,172,338,554 USD (including Total liabilities and restricted & unrestricted investments accounts of the bank ) compared with total liabilities of 1,202,547,759 USD (including Total liabilities and restricted & unrestricted investments accounts of the bank ) at the end of year 2019, a net decrease of 2.51%. Net ownership equity of the company reached 118,929,305 USD compared with total owner equity of 115,865,563 USD at the end of year 2019, a net increase of 2.64%.Noting that paid-in capital increased from 77,000,000 USD in year 2019 to 80,000,000 USD of this year,a net increase of 3.90%.