Tue 16 May 2023 9:50 am - Jerusalem Time

Arab Islamic Bank achieves a net profit of more than 4.11 million dollars

The Arab Islamic Bank achieved net profits after tax amounting to $4.11 million at the end of the first quarter of 2023, compared to profits amounting to $3.61 million for the same period last year, achieving a growth of 14%, mainly due to the remarkable growth in the bank’s revenues. operational.

In terms of other financial indicators, the bank's assets reached $1,686,808,320, while the total customer deposits amounted to $1,428,745,847, while the balance of direct credit financing amounted to $1,044,982,711. distinctive and solid financial performance.

In turn, the Chairman of the Board of Directors, Rushdi Al-Ghalayini, explained that these positive results achieved by the Arab Islamic Bank came as a result of the flexibility of the plans drawn up by the Board of Directors and their adaptability in various circumstances, in addition to the effort exerted by the employees of this leading financial institution, to move it at a steady pace towards developing financial services. And banking and work to strengthen relations with customers from all sectors.

He pointed out that the bank continues to provide banking services and financing to all economic sectors in accordance with the policies drawn up and approved by the Board of Directors. at the end of the current year, especially since he is working to diversify his investments in a way that guarantees achieving the best returns. Al-Ghalayni thanked the bank's customers, shareholders and employees for their contribution to the growth and development of the bank.

For his part, the General Manager of the Arab Islamic Bank, Hani Nasser, explained that the results in the first quarter of 2023 represent an achievement for the bank, and the strong financial performance is evidence of its success and reflects the extent of the bank's customers' confidence in the safety and solidity of the bank's financial position, and these positive results also confirm the efficiency and flexibility. Executive policies and procedures that helped the bank develop its operations, overcome crises, address strong competition in the markets, take advantage of the opportunities available in them, and work to meet the needs of the largest number of customers in various sectors, in addition to directing and urging customers to use electronic banking services, which have proven high efficiency in facilitating the work cycle .

The bank seeks to continue investing in improving electronic banking services to ensure better service to its customers by focusing on digital services and digital transformation, which is one of the bank's strategic goals.

He added that these results confirm the bank's pioneering position as one of the largest banks in the Palestinian banking sector by strengthening its efforts in community service and participating in many initiatives to create a positive and sustainable impact.

In light of its commitment to community service, the bank always seeks to participate and contribute with community institutions in order to provide a better life for the most needy groups in various sectors and to achieve sustainable development in general.

The Arab Islamic Bank is considered the first Islamic bank to operate in Palestine since the beginning of 1996, and it provides its customers with a distinguished set of Islamic banking products and services for individuals, companies and projects through its network of branches consisting of 31 branches and offices spread across all governorates of the country, including a representative office for the bank in Dubai and a mobile branch. Banky on the road.

The bank has won many prestigious awards in many occasions and honoring forums, which is solid evidence of its efforts in various fields, including retail banking services, corporate banking services, as well as its distinguished contributions in the field of social responsibility. This indicates its leading position in the Palestinian banking sector.


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Arab Islamic Bank achieves a net profit of more than 4.11 million dollars