Bank of Palestine

Stock performance

History

Bank of Palestine was founded in 1960 in Gaza by Hashem Shawa, and after decades of operating under Egyptian and Israeli rule it became the largest Palestinian bank following the establishment of the Palestinian Authority in the 1990s. It is listed on the Palestine Exchange.

Business model

Bank of Palestine provides retail, corporate, and SME banking, payments, and digital banking across the West Bank and, until the 2023 war, Gaza, along with lending to the Palestinian Authority.

Market position

Bank of Palestine is the largest bank in the Palestinian territories by assets, deposits, and branches.

Country impact

The bank is central to the Palestinian economy, handling salaries, transfers, and credit, and the war in Gaza since October 2023 destroyed much of its Gaza branch network and sharply increased its credit risks.