The economic crisis brought about by the Covid-19 pandemic is clearly reflect in the second quarter financial results of Bank Hapoalim (TASE: POLI), which were published this morning. The bank reported net profit of NIS 133 million in the second quarter, down 85% from the corresponding quarter of 2019. This fall stemmed mainly from the NIS 1.13 billion set aside for credit losses, up 250% from the corresponding quarter of 2019.
Published by Globes, Israel business news – en.globes.co.il – on August 13, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020