TEL AVIV May 24 Bank Hapoalim,
Israel's largest lender, reported better-than-expected
first-quarter net profit due to higher income from financing
activities as well as from fees.
Hapoalim said on Wednesday it earned 767 million shekels
($213.5 million) in the quarter, up from 674 million a year
earlier and above 754 million forecast in a Reuters poll of
Net financing income rose to 2.26 billion shekels from 2.21
billion, while it had net credit loss expenses of 107 million
shekels compared with 46 million a year ago.
Hapoalim's core Tier 1 capital ratio to risk-weighted assets
rose to 11.21 percent from 11.01 percent at the end of 2016.
The bank declared a quarterly dividend of 307 million
shekels, after it said last month it would increase its cash
payout to 40 percent of net profit.
($1 = 3.5927 shekels)
(Reporting by Tova Cohen; Editing by Steven Scheer)