Summarizing a successful year that resulted in the distribution of a dividend of one and a half billion shekels to the shareholders (Photo: ShutterStock)
In the shadow of the possible fear of long-term damage to the strength of the Israeli economy, Bank Hapoalim publishes its financial statements for 2022 and summarizes a year of growth with a net profit of approximately NIS 6.5 billion, reflecting a return on capital of 14.8%.
The main points of the report:
• The bank continues a trend of responsible growth in line with macroeconomic developments and uncertainties in the markets: The bank increased its credit portfolio in the last year by a rate of 10.2%, which expresses a significant increase mainly in business credit and housing credit while maintaining quality and strong credit indices.
At the same time, the bank continued to focus efforts on improving efficiency - the efficiency ratio improved in 2022 to 44.5% compared to 54.2% in 2021.
The bank continues to present high strength and stability indicators: Tier 1 capital ratio of 11.25% and total capital ratio of 14.70%.
• The bank announced the distribution of a dividend amounting to 30% of the profits of the fourth quarter and in aggregate distributed to the shareholders about 1.5 billion shekels for this year's profits
The bank presents the strategic plan 'Poaleim 2026'
Reuven Krupik, chairman of Hapoalim: "Preparation and positioning of the bank for a strategic process" (Photo: Inbal Marmari)
The chairman of the bank, Reuven Krupik
: "The main feature of our activity in 2022 was the preparation and positioning of the bank for a strategic process that requires multi-year optimization and maximum achievement in short periods of time.
In our view, technological capabilities - primarily artificial intelligence applications and expanding reliance on cloud technology, alongside business entrepreneurship and winning innovation based on open banking, cyber capabilities that enable growth, as well as priority capabilities of social banking - will form the core of the central influence on the bank of the future."
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"We continued in the trend of responsible growth."
CEO of Hapoalim, Dov Kotler (Photo: Gadi Dagon)
The bank's CEO, Dov Kotler
: "During 2022, we continued the trend of responsible growth in our credit portfolio - in particular in business and commercial credit and housing credit.
We continued to be for our clients the first professional source for consultation before making a significant financial decision, we advanced in the trend of resource optimization and added to being focused on achieving our business goals - all this while improving our capital indices and financial strength.
I would like to thank the chairman of the board Reuven Krupik and the members of the board for their support, trust and partnership in leading the bank. I would also like to thank the bank's employees, who stand behind these achievements and constantly work to perform their duties in the most professional and responsible manner - for which I am very grateful and appreciative."
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