Bank Hapoalim Posts NIS 2.5 Billion Profit Amid Credit Growth

The bank’s quarterly results were bolstered by a 23.8% surge in financing income, which helped offset the impact of lower average interest rates. Total income rose 19.8% compared to the first quarter, while operating expenses remained flat, driving the cost-income ratio down to 30.6%. CEO Yadin Antebi emphasized that the institution maintained high credit quality throughout the period, with a non-performing loan ratio of 0.50% and a coverage ratio of 284%.

Credit expansion remained broad-based, with corporate and commercial segments leading the growth. The bank’s CET-1 capital ratio reached 11.83%, exceeding both regulatory requirements and internal targets. Reflecting this financial stability, the board approved a total profit distribution of 50%, split between a NIS 995 million cash dividend and a NIS 249 million share buyback program. Looking ahead, the bank is preparing for a significant real estate consolidation, planning to vacate multiple Tel Aviv offices by late 2027 following the completion of its new headquarters, a move expected to yield substantial gains from asset sales.