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ISBK posts net income of $3.46 million in Q1 2021

2021-06-01

According to the financial statements of Palestine Islamic Bank ISBK for the 1st Quarter of 2021, Net profit after tax of the period reached 3,460,751 USD Compared with Net profit after tax 3,090,876 USD for 2020, a net increase in profit of 11.97%.Total assets of the company reached 1,488,020,695 USD compared with total assets of 1,511,331,316 USD at the end of year 2020, a net decrease of 1.54%.Total liabilities of the company reached 1,361,549,924 USD (including Total liabilities and restricted & unrestricted investments accounts of the bank ) compared with total liabilities of 1,387,996,512 USD (including Total liabilities and restricted & unrestricted investments accounts of the bank ) at the end of year 2020, a net decrease of 1.90%. Net ownership equity of the company reached 126,470,771 USD compared with total owner equity of 123,334,804 USD at the end of year 2020, a net increase of 2.54%.Noting that paid-in capital increased from 80,000,000 USD in year 2020 to 85,000,000 USD of this year,a net increase of 6.25%.