November 20, 2019 / 6:38 AM / 24 days ago

Israel's Bank Hapoalim Q3 net profit drops

JERUSALEM, Nov 20 (Reuters) - Bank Hapoalim, one of Israel’s largest lenders, reported on Wednesday a 22.5% drop in third quarter net profit to 736 million shekels ($213 million) from 950 million shekels a year earlier.

The bank also said it distributed a 1 billion shekel dividend coming from a capital surplus generated as a result of the sale of a 65% stake in credit card business Isracard. ($1 = 3.4605 shekels) (Reporting by Ari Rabinovitch; Editing by Tova Cohen)

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