Bank of Palestine gains 14.36 USD million in profits for the first quarter of 2013



BOP's net profit before tax for the first quarter of 2013 reached 14,362,620 USD, compared with 13,169,971 USD in 2012, marking a 9.1% growth percentage.

Hashim Shawa, Chairman and General Manager of BOP, noted that these results reflect BOP's successful financial policies, and the bank's continuous growth along with the confidence of its customers. BOP's expansion policy resulted in delivering more services to more customers, in addition to its diverse services and distinct campaigns and offers, resulted in an increase in the size of BOP's banking transactions.

Financial statements for Q1 further indicate a growth in assets amounting to 2,160,676,225 USD, compared to 2,004,494,095 USD last year, a growth of 7.8%. Shareholder rights at the end of Q1 amounted to 232,415,736 USD compared to 220,973,909 USD in 2012, an increase of 5.2%. Deposits increased to 1.6 billion USD. Furthermore, Shawa stated that the credit facilities granted by BOP in Q1 amounted to 922 million USD, stressing the bank's efforts to increase the size of facilities in order to provide the necessary funding for all sectors to contribute to the national economy.

Shawa attributed that these results were achieved due to BOP's strong management team, and the bank's efficient delivery of different services and products to a variety of customers. These factors are the backbone of BOP, stated Shawa, in addition to the policies adopted by the bank's Board of Directors, which are consistent with international standards and regulations. BOP's expansion policy was marked this year by opening new modern buildings throughout the country, making up a total of 48 branches and offices, and 104 ATMs, constituting the largest banking network in Palestine.

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