The National Bank (TNB) disclosed the results of its financial statements for the last nine months of 2022, achieving a net profit of about 10.5 million US dollars, and an increase of 59% in the shareholders’ dividends.
The financial results for the last nine months of this year indicated that the bank's total assets amounted to 1.52 billion US dollars, its customers' deposits amounted to 1.173 billion US dollars, and the direct credit facilities portfolio amounted to about 906 million US dollars. The income statement indicated that net interest and commission revenues amounted to 35 million US dollars, while total income stood at 46 million US dollars.
Commenting on the results, Samir Zraiq, TNB Chairman of the Board, said: “We are proud of the results that the bank has been able to achieve during the past nine months. They show the bank’s strength and financial position, and the well-studied scientific plans that we follow in order to sustain the process of growth and progress that we have started, and to satisfy our shareholders and customers.
"The bank's general strategy for the next three years has been approved. It focuses on effective and efficient growth and increasing the bank's market share in various sectors, while continuing to invest in digital technology to keep pace with the global banking industry, and meet customers' needs in an innovative and advanced manner." Zraiq added: "We will continue to achieve our goals and vision with determination and confidence in order to make new achievements in the Palestinian banking market”.
For his part, TNB CEO, Salameh Khalil, said: "The financial results for the last nine months are very good, and they have achieved the required targets in all items in the budget and exceeded expectations in some." Khalil also talked about the bank’s achievements during those nine months, referring to the development plans implemented by the bank at all levels, which included the infrastructure of its IT systems, raising the paid-up capital, establishing and developing new policies and procedures, restructuring departments, and establishing a more effective organizational structure for the institution. Furthermore, they adopted and implemented the recommendations of global consultant KPMG, as part of the most comprehensive governance project in the history of the Palestinian banking sector, to achieve the highest standards of good governance, control and oversight. Khalil stressed that all these steps contribute towards strengthening the TNB’s foundations to build a solid basis to achieving future goals.
