The National Bank (TNB) announced the results of its financial statements for the fiscal year 2021 with a net profit of around USD 14 million, of which USD 8.5 million are dividends to shareholders. The 2021 financial statements figures, which TNB disclosed on the Palestine Stock Exchange, reflected the bank’s total assets of USD 1.63 billion, while the deposits of its clients reached USD 1.21 billion. The net loans and advances to customers amounted to USD 877 million as on December 31, 2021. As for the income statement, it reflected a total income of USD 86.8 million for the bank during the year 2021. 

Commenting on the results, TNB Chairman, Samir Zraiq, indicated that the results achieved by the National Bank were very satisfactory and reflect the bank’s robust status, financial solvency, and the success of its development plans pursued early last year. TNB was able to improve the efficiency of its financial portfolios and enhance the bank’s financial position, with the support of the Bank's strategic partners, and the active role of the Bank's Board of Directors and committees.

Zraiq explained that during the year 2021, despite the economic situation, TNB shareholders who believe in the bank and are determined to invest in our country and contribute to its development, raised their investments in the bank, bringing TNB’s paid-in capital to USD 104.5 million, and thus making it the second largest Palestinian bank in terms of paid-in capital. Zreik further noted that this reaffirms the strength of the bank's capital base and its reliance on solid foundations, which directly supports its growth and development plans.

For his part, TNB CEO, Salama Khalil, expressed his satisfaction with such results, indicating that they achieved the objectives set for the year 2021 thanks to the implementation of the development plan that led to raising the efficiency and effectiveness of the bank’s financial portfolios and reducing the cost of funds. Khalil touched on the bank's investment in its human cadre during the year 2021, and the development of best practices for corporate governance and organizational frameworks.

Khalil clarified that the bank will continue to implement its development plan in year 2022 and pursue its effective and prudent growth to satisfy both its customers and shareholders, and reach the ambitious goals set by TNB’s Board of Directors.