After announcing its unaudited data reports processed during the first half of 2017, “Palestine Islamic Bank” earnings exceeded 8 million US dollars
Palestine Islamic Bank earnings reached 8.036 million dollars before taxation during the first half of 2017, an estimated 3.65% growth compared to the same period in 2016.
Mr. Bayan Qasem, General Manager of the Palestine Islamic Bank, said that the bank’s indicators witnessed a remarkable growth during the first half of 2017, which can be attributed to the strategic plan that was made by the board of directors and the efforts made by the executive administration, where they showed a high level of professional commitment that reflected well on the earnings for the first half of 2017.
Mr. Qasem mentioned that the Bank is currently working to expand its network of branches and ATM machines,and that there has been an effort to diversify the banking services Palestine Islamic Bank provides to remain competitive and continue delivering high quality services for clients.
The Bank’s income increased to 14.61%, reaching 23.99 million dollars compared to 20.93 for the same period in 2016.
Other indicators for the Palestine Islamic Bank that indicate growth include: the net direct financing increased from 539 to 570 million US dollars; the Bank’s assets increased by 13.82% to become 921 million dollars; and customer deposits increased by 12.96%, reaching 736 million dollars compared to the same period last year.
Palestine Islamic Bank was established in 1995 and operates in the West Bank and Gaza Strip with 32 branches and office