Global Finance international banking magazine granted “Bank of Palestine” the award of “Best Bank in Palestine” in 2014 for the third consecutive year, within its classification to the best banks in the Middle East; its classifications covered the continents of Asia, Africa, Europe, North America, Latin America and the Middle East.
The awards were acknowledged during a ceremony organized by the international magazine during the past month to deliver the awards in the American capital Washington, DC; with the participation of various winning banks and international banking and financial institutions, in addition to a number of pioneers of the banking sector in the Unites States, Europe and the world.
The standards adopted by Global Finance to select the winning banks and financial institutions include several determinants, including: growth in assets, profitability, strategic relationships, customer services, competitive rates and innovative products. The self-determinants also included the opinions of stocks analysts, credit-rating analysts, banking consultants and others working in this sector. Global Finance Magazine also indicated that its selection to the winning banks and financial institutions is based on its acknowledgments to the outstanding achievements by these banks under difficult conditions of the international financial markets and the variances of conditions in each market.
Mr. Hashim Shawa, Chairman and General Manager of Bank of Palestine, congratulated the Bank’s family for the continuous achievements, indicating that the Bank’s award as the “Best Bank in Palestine” from Global Finance is a culmination of its accomplishments throughout the past years despite the difficult political and economic conditions; he explained that the Bank proved its great ability and strong and continuous determination to do distinctive work and provide optimal services. Shawa expressed his contentment and pride as the international and global institutions continue to grant the Bank with advanced rankings.
Shawa added that Bank of Palestine passed all tests, audits and inspections conducted by Global Finance Magazine, making the Bank highly eligible to win this award and confirming the validity of the adopted policies and strategic plans. Which is also consistent with the Bank’s visions and strategies to expand and spread out to deliver its banking services to all of the Palestinian governorates, especially to the rural areas, which contributed to maintaining the first place in expanding throughout the country, with a banking network made of 51 branches and offices, in addition to launching central buildings for branches in the primary governorates, and the installments of around 120 ATMS where needed. This has enhanced the Bank’s abilities to attract new customers, which strengthened the Bank’s financial portfolio and products. In addition to its activities in the areas of social responsibility by supporting charitable bodies and institutions, various social events, sports, health, childhood, fight against poverty and launching development projects that contribute to the sustainability process. The bank contributes 5% from its net profit on annual basis for social responsibility, which forms a primary part of its message of moving economic development forward.
Global Finance Magazine was established in 1987 and is based in New York; it specializes in the fields of banking, financial institutions and banking services. Its mission is to assist corporate managers, bankers and investors to plan the path of international trade and financing. The magazine is distributed in 163 countries. The magazine selects the best financial institutions around the world on annual basis; these awards became a recognized and trusted standard for excellence.