Bank of Palestine receives the award of “The Best Bank in Palestine” within Euromoney Global Magazine’s classifications for year 2015, for the fifth consecutive year
7 | 9 | 2015
Bank of Palestine received the award of the Best Bank in Palestine within the prominent Euromoney Global Magazine’s classifications for the year 2015, for the fifth consecutive year in Palestine. Mr. Hashim Shawa, Chairman and General Manager of the Bank, received the award during a grand ceremony held in Shangri-La Hotel in Dubai, United Arab Emirates, with participation of businessmen, chairmen and directors of banking institutions in the Gulf and Middle East region, and in the presence of the leaders of the Arab and global banking sector.
Bank of Palestine received this award for the first time in 2011 and continued to receive it within fierce competition, as the Bank continued with its distinction through the development of its services, its expansion and achieving excellent results throughout the past years. The management of Euromoney Magazine awarded Bank of Palestine the award based on international standards to select outstanding banks around the world, in addition to qualitative and quantitative classification standards, including key performance indicators (KPIs), financial ratios and innovation over the past twelve months. The global magazine held a ceremony to distribute the excellence awards, which are considered a standard for quality in the financial services sector in the world, for the twenty fourth consecutive year.
Shawa expressed his extreme contentment for the Bank to receive the “Best Bank in Palestine” award for the fifth consecutive year; he confirmed that the continuing journey of success reflects a strong vision, great success and high determination, as Bank of Palestine became a leading Bank with its provided services and products; he adds that the Bank received the well-deserved award due to the customer’s trust and appreciation and usage to the products and services, in addition to the employees’ loyalty and support for the Bank’s success, to confirm once again that we are continuing in true building and development of individuals and the society.
Shawa explained that this reward reflects the Bank’s ability to maintain the position and reputation it reached, which motivates its family for more giving and to innovate creative foundations for development, and to present new and suitable services within competitive markets, locally and internationally with broad prospects. The Bank continued with its approach to develop new financial and banking products and services that meet the needs of its customers and are up to date with various modern developments in the business and economic worlds.
Shawa added that the Bank’s success and for it to receive international awards and advanced classifications locally and internationally, took great efforts at all levels; the Bank achieved a high growth rate in the past five years and continues to achieve this growth. The Bank’s disclosure about the first half of this current year, indicated that the Bank achieved profit in the value of 22.7 million US dollars, with a growth rate of 19.93%, as the Bank achieved profit during the same period of last year in the value of 18.9 million dollars. The financial results also achieved high growth levels that reflected a strong performance of the activities and commercial and financial operations, and the great success of the Bank’s strategy plan, and its ability to face various conditions and work within a sustainable plan that supports the Bank in its expansion plan locally and internationally, keeping the Bank ahead with the biggest banking network, made of 56 branches and offices, 120 ATMS in areas with citizens present, to deliver its banking services to all Palestinian governorates, particularly rural areas.
In addition, Shawa added, that the Bank focused in the past two years on financing of micro-small, small and medium-sized enterprises, as they form 90% of the components of the Palestinian economy, as supporting their growth and development will lead to the stimulation of the economy, increase in growth and reduce unemployment in the Palestinian society. He also indicated the Bank’s efforts to empower Palestinian women to effectively participate in the economic life and benefit from their capabilities by launching an exclusive program to support Palestinian women called “Felestineyeh”, which includes the provision of banking products dedicated to women, in addition to awareness workshops conducted in various governorates in collaboration with several institutions; as around 500 Palestinian woman joined these workshops; the "Felestineyeh” program also includes a specialized awareness Facebook page that provides women with important tips and information in the fields of health, nutrition, upbringing of children, and career and self-development.
Additionally, Bank of Palestine contributed in spreading the culture of using plastic cards, and established the first network for electronic points of sale (P.O.S) to assist its customers and plastic (credit) card holders from other various Banks locally and abroad to purchase their needs from stores and shops through a network of more than 6000 points of sale distributed in all Palestinian areas in the West Bank and Gaza Strip. In addition to the electronic payment service through the customers’ accounts by accessing their online banking accounts.
Shawa also highlighted the humanitarian, developmental and social responsibility aspects, which represent a primary aspect of the Bank’s message to push the development, economic and social wheel forward, through launching charity campaigns and by providing support to charity institutions and entities and social events, in addition to sponsoring talents and innovations. The Bank dedicates 5% of its annual net profit for its social responsibility program, which is one of the highest percentages locally and globally in this field; he adds that the Bank provided more than 10 million dollars throughout the past five years to support development sectors in Palestine.
In closing, Shawa expressed his pride in the Bank’s family and staff, for their support, sincere commitment and loyalty and for their contribution in the Bank’s growth, development and receiving high international classifications and advanced standing locally and internationally. He expressed his thanks and gratitude to the Bank’s customers and shareholders for their continuous trust in its services; he also commended the efforts by the Palestinian Monetary Authority that aims to ensure the safety and stability of the banking system.