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IFC completes its contribution of %5 in Bank of Palestine's capital

2008-11-03
The bank"s chairman and its general manager Mr.Hashim Alshawa said that the bank had received the value of IFC"s investment regarding its contribution in the bank of Palestine"s capital that represents %5 to amount the paid up capital of the bank that is $81,404,137. Alshawa added in a press release yesterday that the entrance of IFC as a strategic partner reflects its confidence in the bank"s performance, considering the partnership with this institution with huge benefits and advantages; as allow for the Bank of Palestine to begin plans for regional expansion after proving the efficient and professional standards that is comparable to the best global standards in terms of growth and performance, in addition that is within this agreement the IFC will help due to its expertise to attain the required studies and finance the big national projects. And added:" the internal audited financial statements of the bank for the third quarter of this year indicates a growth in the assets that had exceeded $ 1 billion comparing $847 million at the end of the previous year, and that reflects the growing confidence of the depositors, while shareholders equity raised to reach $107,339,330 in 30/09/2008 and after the entrance of the IFC it will reach approximately $120 million.