Company presentation

Bank of Palestine has a long embedded presence and experience in Palestine dating back to 1960. Bank of Palestine is constantly growing to be financially inclusive, and socially responsible at the cutting edge of global financial practice and innovation. The bank has the most widespread branch network in Palestine (69 branches), a paid up capital of $230 million, with a market share in total loans and deposits of 32.40% and 35.56%, respectively. It offers a comprehensive range of financial services to its customers, including retail, micro-enterprises, SMEs, and corporates, with 1,790 employees serving more than 1 million customers. BOP is engaged in retail, corporate, micro & SME, and Diaspora banking operations. Bank of Palestine has believed in the importance of building strong relationships with local, regional, and global development institutions. Over the past years, the Bank has entered into cooperation agreements with numerous entities, including the International Finance Corporation (IFC), the French Development Agency (AFD) and Proparco, the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Arab Fund for Economic and Social Development, the KfW Development Bank, and the Islamic Development Bank (ISDB) and Japan International Cooperation Agency (JICA).

Bank of Palestine’s regional expansion is a key pillar of the 5-year strategy. The bank in addition to its presence in DIFC Dubai through a representative office is applying for a booking center at Abu Dhabi Global markets enhancing its presence in GCC to serve Palestinian diaspora, regional and international investors. Additionally, the bank has received approval from the Egyptian Central Bank in Cairo to open a representative office with an eye of obtaining licensing for a full branch in Egypt. The bank is in the process of applying for opening branch operations in Jordan as well as part of its regional expansion focusing on the Levant area. The strategy also entails digital transformation (expanding the digital footprint in services and branches), target sectors outside the banking sector through PalPay, increase focus on the SME sector and enhance retail services.

Key figures (USD)	2021	2022	2023
Total Revenue	262,534,310	299,176,819	327,803,812
Profit Before Tax	84,604,853	107,337,833	17,936,254
Net Profit	56,254,327	66,646,637	16,490,514
Assets	6,508,221,806	6,487,960,857	7,126,060,748
Customer Deposits	5,305,139,602	5,266,723,842	5,807,727,294
Credit Facilities	3,453,207,160	3,572,054,865	3,839,008,227
Shareholder Equity	496,099,429	545,922,621	560,360,382
Paid-Up Capital	217,433,527	223,958,577	230,677,334
Net Interest and Commissions Income	223,598,064	256,282,832	290,004,515
No. of Employees	1,745	1,799	1,790
No. of Customers	732,462	843,657	913,307
No. of Branches	73	73	72
Market Share: Deposits, %	31.72	31.78	33.02
Market Share: Credit Facilities, %	33.92	34.21	33.86