Israel Discount Bank Q4 net profit slips

TEL AVIV, March 31 (Reuters) - Israel Discount Bank (DSCT.TA), Israel's third-largest bank, on Monday reported a fall in quarterly net profit due to one-time items.

Discount's quarterly net profit amounted to 41 million shekels ($12 million), or 0.04 shekel per share, compared with a profit of 148 million shekels, 0.15 shekel a share, a year earlier.

Excluding items, Discount said its net profit was 126 million shekels in the fourth quarter, compared with profit of 123 million shekels in the last three months of 2006.

Financing income before the doubtful debt provision rose to 1.08 billion shekels from 1.0 billion shekels a year earlier while the doubtful debt provision dipped to 85 million shekels from 177 million.

Discount had been forecast to post net profit of 225 million shekels on financing income pre-bad debts of 1.05 billion shekels, according to the average estimate of seven analysts in a Reuters poll.

($1 = 3.53 shekels)

(Reporting by Steven Scheer)