Palestine Islamic Bank Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2018
Palestine Islamic Bank announced unaudited earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported finance and investment Income was $10,746,868 compared to $9,725,231 for the same period a year ago. Share of income from financing and investments was $9,578,215 compared to $8,483,649 for the same period a year ago. Net commissions were $2,208,082 compared to $1,971,466 for the same period a year ago. Net income before tax was $3,844,989 compared to $4,003,552 for the same period a year ago. Net income after tax was $2,672,603 compared to $3,038,790 for the same period a year ago. Basic and diluted earnings per share were $0.039 compared to $0.049 for the same period a year ago. Net cash outflow from operating activities was $28,713,683 compared to $12,950,669 for the same period a year ago. Purchase of property plant and equipment was $1,670,131 compared to $721,624 for the same period a year ago. Purchase of intangible assets was $64,496 compared to $101,960 for the same period a year ago.