Hapoalim net fell in quarter on lending drop, doubtful debt rise

01.06.2012                      11.Siwan. 5772

Wirtschaft:

Hapoalim net fell in quarter on lending drop, doubtful debt rise

Hapoalim's net profit amounted to NIS 659 million in the first three months of the year, cutting its net return on equity to an annualized 11.3% from 17% a year ago.

Bank Hapoalim, Israel's biggest lender by market capitalization, saw profit plummet 26% in the first quarter from the same time a year ago, as lending to businesses declined and doubtful debt grew….