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TNB’s net profit growth marks 51.6% for Q3 2013

2013-10-27

TNB’s net profit growth marked 51.6% for the first 9 months of 2013, reaching 3.563 Million Dollars before tax, compared with 2,349 Million dollars for the same period last year.

The financial statements also revealed a growth in deposits reaching 282.779 Million dollars compared with 216.179 Million dollars at the end of the year 2012, and a growth in assets marking 39% to reach around 487 million dollars compared with approximately 351 million dollars last year.

Director General, Mr. Ahmad Alhaj Hasan pointed that with these good results, TNB guarantees its shareholders to achieve its goal in becoming one of the leading banks in Palestine.

The financial statements also revealed a growth in gross income reaching 36% recording 10.620 million dollars in Q3, compared with 7.821 million dollars Q4 last year, as well as a growth in net interest and commission marking 31%.

Alhaj Hasan, attributed this to TNB’s real operational activities as well as the growth in loan granting percentage which resulted to a growth in the direct credit facilities portfolio marking 47%, recording around 211 million dollars compared with around 143 million dollars at the end of the financial year 2012.Adding that TNB is going to continue to reinforce its activities to reach all the Palestinian areas offering the finest and most distinctive banking solutions to its clients.

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