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ISBK posts net income of $11.17 million in 2020

2021-02-15

According to the financial statements of Palestine Islamic Bank ISBK for the year 2020, Net profit after tax of the period reached 11,169,723 USD Compared with Net profit after tax 14,524,068 USD for 2019, a net decrease in profit of 23.10%.Total assets of the company reached 1,514,786,774 USD compared with total assets of 1,318,413,322 USD at the end of year 2019, a net increase of 14.89%.Total liabilities of the company reached 1,388,089,942 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 increase of 15.42%. Net ownership equity of the company reached 126,696,832 USD compared with total owner equity of 115,865,563 USD at the end of year 2019, a net increase of 9.35%.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%.