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Board of Directors of Bank of Palestine recommends to distribute profits by %22.8 as stocks dividends

2009-04-01

Ramallah- Al Ayyam: The Board of Directors of Bank of Palestine decided to recommend to the general assembly which will hold a meeting on April 24 to distribute profits to shareholders by %22.80 of the capital as stocks dividends, bringing the paid-up capital of the bank to $100 million. The bonus shares will be distributed to shareholders as they are in the records of Palestine Securities Exchange on the date of the Assembly, according to the percentage of each contribution.
The Chairman of the Board and the General Manager of Bank of Palestine Mr. Hashim Al Shawa said that the bank achieved a net profit in the year 2008 of $23,610,956 up by %14.73 from the year 2007,
Al Shawa said in a statement that the bank has achieved remarkable growth in the f assets where they exceeded one billion dollars at the end of 2008, a growth rate amounted to %36.23 compared with the end of the year 2007, that were about $847.65 million. While the net shareholders in the year 2008 rose by %52.36 to reach $123,169,873 comparing to $90,218,428 in the year end of 2007.