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    POLI   IL0006625771

BANK HAPOALIM B.M.

(POLI)
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Bank Hapoalim B M : Israel's Bank Hapoalim first quarter profit jumps on reversal of loan loss provision

05/13/2021 | 01:20am EDT
FILE PHOTO: A woman uses an automated teller machine outside a Bank Hapoalim branch in Tel Aviv, Israel

JERUSALEM (Reuters) - Bank Hapoalim, Israel's largest lender, reported a higher than expected jump in quarterly profit, boosted by a reversal of provisions to protect against loan defaults.

Hapoalim said on Thursday it earned 1.354 billion shekels ($412 million) in the January-March period, compared with a 192 million shekel profit in the first quarter of 2020.

Net interest income gained to 2.23 billion shekels from 2.19 billion a year earlier, while it had income for credit losses of 508 million shekels after posting provisions for loan losses of 809 million in the first three months of 2020.

(Reporting by Steven Scheer; Editing by Jacqueline Wong)


ę Reuters 2021
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Financials
Sales 2021 13 974 M 4 354 M 4 354 M
Net income 2021 4 505 M 1 404 M 1 404 M
Net Debt 2021 - - -
P/E ratio 2021 8,11x
Yield 2021 4,99%
Capitalization 38 142 M 11 879 M 11 883 M
Capi. / Sales 2021 2,73x
Capi. / Sales 2022 2,70x
Nbr of Employees 8 708
Free-Float 88,6%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 28,54 ILS
Average target price 30,60 ILS
Spread / Average Target 7,22%
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Managers and Directors
Dov Kotler Chief Executive Officer
Ram Gev Chief Financial Officer
Ruben Krupik Chairman
Eti Ben-Zeev Chief Information Officer & Head-IT
Dalia Lev Independent External Director