Bank of Palestine (BOP) is the first and largest bank with a
well-diversified branch network of 50 branches in Palestine, and a paid
up capital of USD 160 million and assets of over USD 2.3 billion.
Established in 1960, BOP has successfully expanded its presence and
operations throughout the country and now has around 1,200 employees
serving 650,000 customers. BOP has around 23% market share of deposits
and loans in Palestine. Operating as a universal bank, BOP is engaged in
retail, corporate, SME and Micro, and Diaspora banking operations, with
the largest card processing operations in Palestine. BOP is the sole
agent for issuing and acquiring Visa and MasterCard in Palestine with
over 6,000 Point of Sale merchant terminals nationwide.
BOP has been very active in promoting the SME
Finance and Micro Finance sector in Palestine and established dedicated
units within the bank to service those customers with the aim of
developing the economy through wider access to finance. Recently, BOP
has also played a leading role in some of the largest project finance
loan syndications in the country.
In the past few years, and in cooperation with
the International Finance Corporation (IFC), BOP was the first bank in
Palestine to develop a risk management structure, systems, procedures,
and processes, as well as promoted and strengthened its corporate
Bank of Palestine’s stock (PEX: BOP) has been
listed on the Palestine Exchange (PEX) since 2005. It is among the
market’s blue chip stocks, and represents 15% of total PEX market
In 2007 BOP established a brokerage subsidiary,
Al Wasata Securities Co, providing customers with trading access to
stocks listed on the Palestinian Stock Exchange and regional markets,
with offices in Gaza and Ramallah. Al Wasata has rapidly grown and is
now one of the leading brokerage companies in Palestine.
In 2011, the bank established another
subsidiary, PalPay® – Palestine. PalPay® offers bank and non-bank
clients a unique service, enabling them to pay utility bills and top up
mobile phone credit using the bank’s 6,000 Point of Sales (POS) merchant
terminals, spread throughout the country in shops, supermarkets,
restaurants, and hotels.
Bank of Palestine has played a very proactive
role in several fundamental initiatives in Palestine. The bank has
mobilized the Palestinian private sector to launch the first private
pension fund. It led the efforts to set up the fund and to advocate for
the required legislative reforms. This fund will be the first private
pension fund in the region. It will be based on a model similar to the
Chilean model. This pension fund is expected to contribute greatly to
strengthening the Palestinian economy and society, through enabling
access to finance for medium and long term projects, developing the
Palestinian financial markets, creating employment and reducing poverty,
and providing stability and reassurance to citizens, especially the
elderly, leading to further spending and investments.
Bank of Palestine has been committed throughout
the years to economic development on a community level. Therefore the
bank has adopted a holistic sustainability strategy and has been the
leader in Corporate Social Responsibility (CSR) in Palestine dedicating
5% of its net profit to areas of Youth, Innovation & Education, Health &
Environment, Sports, Arts & Culture, Women Empowerment, Economic &
Diaspora Affairs, and Social & Humanitarian Efforts.
In the past few years, the bank’s development,
achievements, and contribution to the Palestinian society and economy
have been recognized by several prestigious institutions including
Euromoney and Global Finance as the "Best Bank in Palestine”.
For more information: http://bop.ps/ir/en/home