Hapoalim profit jumps by over 69%

By HILLEL KOREN / GLOBES
March 31, 2011 13:07

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Bank Hapoalim (TASE: POLI) reported a jump of over 69 percent in net profit for the full year of 2010,to NIS 2.23 billion, from NIS 1.32 billion in 2009.

Provisions for doubtful debts fell 49%, to 1.03 billion at the end of 2010 (0.49% of credit), from 2.02 billion (0.9% of credit ) at the end of 2009.

The bank's capital adequacy ratio rose to 14.1%, from 13.7% at the end of 2009. The core Tier 1 capital ratio was 8.23%, up from 7.66% at the end of 2009.

For the first time since 2006, Bank Hapoalim reported higher net operating profit (profit from regular activities) than Bank Leumi (TASE: LUMI). Hapoalim reported net operating profit of NIS 2.2 billion. Bank Leumi's financial report, issued yesterday, showed net operating profit of NIS 2.195 billion.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
September 23, 2018
Islamic state posts video of men allegedly involved Iran attack

By REUTERS