JERUSALEM Aug 14 Bank Hapoalim,
Israel's largest lender, reported a higher-than-expected rise in
quarterly net profit, boosted by an increase in financing income
and a gain in its provision for credit losses.
Hapoalim on Thursday said it earned 783 million shekels
($225 million) in the second quarter, up from 655 million a year
earlier and above expectations of 705 million in a Reuters poll
Net financing income rose to 2.32 billion shekels from 2.18
billion, while it had income in its provision for credit losses
of 3 million shekels, compared with an expense of 301 million in
the second quarter of 2013.
Hapoalim's core Tier 1 capital ratio to risk-weighted assets
was 9.53 percent according to Basel 3, compared with 9.15
percent on Jan. 1.
The bank's board approved a dividend of 119 million shekels
for the second quarter, up from 106 million in the first
($1 = 3.4766 Israeli shekels)
(Reporting by Steven Scheer; Editing by Matt Driskill)