November 26, 2019 / 10:23 AM / 14 days ago

Israel's Bank Leumi Q3 profit drops, falls short of expectations

JERUSALEM, Nov 26 (Reuters) - Bank Leumi, one of Israel’s two largest lenders, reported lower than expected quarterly net profit, weighed down by lower financing income and non-interest income.

Leumi said on Tuesday it earned 765 million shekels ($221 million) in the third quarter, down from 936 million a year earlier.

The bank was forecast to earn 793 million shekels, according to a Reuters poll of analysts.

Leumi declared a quarterly dividend of 306 million shekels, representing 40 percent of net income and down from 369 million in the second quarter.

$1 = 3.4684 shekels Reporting by Steven Scheer; Editing by Tova Cohen

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