Bank Hapoalim net profit rises 27%

By ADI BEN-ISRAEL/GLOBES
November 24, 2010 11:02

Net profit rose 27% in the third quarter for Bank Hapoalim (TASE: POLI), to reach NIS 540 million. Net profit in the corresponding quarter of 2009 was NSI 425 million.

The third quarter profit represented a return on equity of 10.2%, up from 8.8% in the corresponding quarter of 2009, and up from 9.9% in the second quarter of this year.

Provision for doubtful debts fell a sharp 54% to NIS 290 million at the end of the third quarter, compared with NIS 629 million at the end of the corresponding quarter.


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