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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)


© Reuters 2021
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Financials
Sales 2021 13 604 M 4 159 M 4 159 M
Net income 2021 3 378 M 1 032 M 1 032 M
Net Debt 2021 - - -
P/E ratio 2021 8,38x
Yield 2021 2,84%
Capitalization 34 173 M 10 444 M 10 446 M
Capi. / Sales 2021 2,51x
Capi. / Sales 2022 2,44x
Nbr of Employees 8 708
Free-Float 88,5%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 25,57 ILS
Average target price 29,24 ILS
Spread / Average Target 14,4%
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Managers and Directors
Dov Kotler Chief Executive Officer
Ofer Koren Chief Financial Officer
Oded Eran Chairman
Eti Ben-Zeev Chief Information Officer & Head-IT
Erez Yosef Chief Operating Officer, Head-Strategy