Ramallah - “Al-Quds” dot com - Quds Bank announced that it achieved annual net profits for the year 2022, the highest in the bank’s history, with a growth rate of 45.5% compared to the declared profits for the same period of the year 2021

This came according to the financial data that was disclosed on the Palestine Stock Exchange, where it indicated that the bank’s net profit recorded 20.90 million dollars from last year, compared to 14.36 million dollars from the year 2021, while the total income increased during the year 2022 by 16.89 percent. %, which is equivalent to $85.16 million compared to $72.86 million in 2021, while the total assets amounted to $1.452 billion, and the total liabilities amounted to $1.294 billion, while the total property rights amounted to about $157 million in the year 2022, after If it was $137 million in the year 2021, an increase of 14.41%, noting that the paid-up capital increased from $96,433 million in the year 2021 to $100 million in this year, an increase of 3.7%, and the data also indicates that the net facilities provided by Quds Bank for its clients reached 932.22 million dollars, while the total customer deposits recorded 1.166 billion dollars in the year 2022

In light of the strong financial results achieved, the Board of Directors recommended to the General Assembly of the Bank's shareholders the distribution of cash dividends of 10% after obtaining the necessary approvals.

Commenting on these results, Akram Abdel Latif Jarab, Chairman of the Board of Directors of Quds Bank, said: “We are pleased to continue achieving good financial results, which demonstrated the strength and soundness of our strategic plans, and our ability to deal with the economic challenges that Palestine is going through with great flexibility, as the year 2022 was a continuation.” For the achievements of Quds Bank, which strengthened our banking position.

Grab also confirmed that the bank and with the end of the year 2022, and with our adoption of an ambitious strategic growth plan, we hope to continue to achieve sustainable growth of shareholders' equity and to continue recording strong profits in the year 2023 and beyond.

Jarab expressed his thanks and appreciation to the shareholders and the bank's customers for their constant trust and loyalty. He also thanked the bank's employees at all administrative and functional levels for their efforts in achieving these distinguished results.

For his part, Salah Hadmi, CEO of Quds Bank, said: “The year 2022 is a tragic year that resulted in achieving the highest net profit in the bank’s history, amounting to $20.90 million. Providing and expanding our services with unprecedented speed and dynamism, and then the cooperation of existing expertise that seeks to achieve success.

Hadmi indicated that these strong results confirm the bank's success in adopting a proactive approach, the flexibility of its business model, and its ability to seize unique opportunities. He stressed that the bank's strategic priorities focus on continuing to achieve successes in the context of seeking to enhance growth in light of the difficult economic environment at the present time.

It is noteworthy that in the year 2022, Quds Bank was honored by Bank of New York Mellon (BNY), because Quds Bank was the most active in passing transfers using Straight Through Processing (STP) technology. The bank was also able to obtain the award for the most active bank in Palestine in the field of execution International trade operations, according to the standards of the European Bank for Reconstruction and Development, and the International Union of Arab Bankers awarded Quds Bank the award for the best bank in the field of social responsibility in Palestine for the year 2022.