Main KPIs and Highlights of 2023

Bank of Palestine Group continues to build upon strong foundation demonstrating growth and resilience. Despite the current challenging and difficult situation especially in Gaza that started in October 2023, the Bank achieved growth in customer deposit and net loans by 10.3% and 7.5% respectively and total revenues increased by 10.2% from USD 297.5 million for FY 2022 to USD 327.8 million for FY 2023. To cushion against any risk associated with the war on Gaza, the bank has taken higher than usual credit impairment provisions amounting to US$135 million compared to US$24 million for 2022, which has led to decreased net profit by -75% from USD 66.6 million for FY 2022 compared to USD 16.5 million for FY 2023.