Palestine Islamic Bank Announces Unaudited Earnings Results for the Six Months Ended June 30 2018
Palestine Islamic Bank announced unaudited earnings results for the six months ended June 30 2018. For the six months, the company reported finance and investment Income was $22,168,575 compared to $19,401,973 for the same period a year ago. Share of income from financing and investments was $19,356,183 compared to $17,120,909 for the same period a year ago. Net commissions were $4,313,418 compared to $4,081,976 for the same period a year ago. Net income before tax was $8,886,478 compared to $8,036,807 for the same period a year ago. Net income after tax was $6,260,246 compared to $6,366,025 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. Net comprehensive income was $5,880,316 compared to $6,837,755 for the same period a year ago. Net cash flow used in operating activities was $47,500,061 compared to $6,878,430 for the same period a year ago. Purchase of property plant and equipment was $3,461,902 compared to $2,292,922 for the same period a year ago.