Bank of Palestine Announces 2013 Results - Net profit of USD 40.4 Million Continuing its Positive Upward Trend

Bank of Palestine Announces 2013Bank of Palestine Announces 2013 Results - Net profit of USD 40.4 Million Continuing its Positive Upward Trend PR Newswire RAMALLAH, Palestine, February 13, 2014 Bank of Palestine (BOP), the leading Palestinian bank, reported its preliminary and unaudited financial results for 2013. Results Highlights • Profit before tax reached USD 53.04 million in 2013, an increase of 6.15% compared with USD 49.97 million in 2012 • 2013 net profit of USD 40.4 million, up 5.45% compared with USD 38.3 million in 2012 • Operating Income of USD 113 million, up by 10.7% • Total assets up 17.14% at USD 2.35 billion compared with USD 2 billion at the end of 2012 • Loans at USD 1.1 billion, up 13.03% compared to USD 976 million at the end of 2012 • Customer deposits at USD 1.75 billion, up 12.29% from USD 1.55 billion at the previous year-end • Total shareholders' equity reached USD 252 million, an increase of 14.05% Commenting on the bank's performance, Hashim Shawa - Chairman and General Manager of Bank of Palestine said: "I am pleased to report that Bank of Palestine has continued its upward trend achieving sustainable profitable growth. The year 2013 was not an easy year on many fronts in Palestine.