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Bank of Palestine achieved a net profit of USD 28.37 million last year

2010-02-18

Ramallah, "Al Ayyam": "Hashem Al-Shaw the Chairman of the Board of Directors, the General Manager of Bank of Palestine, said that the bank"s net profits for the year 2009 has reached 28.37 million dollars compared to 23.61 million dollars during the year 2008, an increase of 20.16%. Al- Shawa explained in a press statement yesterday that the financial statements at the end of the year 2009 indicated that the bank"s assets reached 1.28 billion dollars, compared with 1.045 billion dollars at the end of the year 2008, an increase of 22.57%, and the size of customers deposits reached 1.018 billion dollars compared to an amount of 840.49 million dollars in 2008, an increase of 21.20%, while net credit facilities granted to clients has reached 343.31 million dollars, an increase of 20.32% from the year 2008. Shareholders’ equity rose by 22.49% to 150.87 million dollars. Al-Shawa said that the results indicated that there is a growth rate of more than 20% in all the financial results of the Bank despite the difficult conditions being experienced by the country and the global financial crisis, and this once again shows the confidence of the Palestinian people in Bank of Palestine,  the First National Bank, as well as the wise administration of this institution.