The graffiti painting by the artist Arad Levy in the city of Sderot sponsored by Bank Hapoalim/public relations
Bank Hapoalim records a huge net profit of about NIS 7.4 billion in 2023, an increase of about 13% compared to the figures for 2022. This is a return on capital of 15% compared to 14.8% in 2022.
Even in the last quarter in which the war broke out and despite the relief plan for the public of Ishal Bank, the bank registered a profit of NIS 1.76 billion compared to a profit of NIS 1.75 billion in the corresponding quarter last year.
Total revenues in 2023 amounted to NIS 21.38 billion compared to NIS 17.92 billion in 2022.
Revenues from commissions amounted to NIS 4 billion in 2023 - an increase compared to NIS 3.9 billion in 2022.
The bank notes that in light of the increased uncertainty and economic risks due to possible consequences of the war, it increased the provision for credit losses in the fourth quarter and they stood at NIS 453 million, that is Compared to NIS 430 million in the corresponding quarter in 2022.
These are lower provisions than those made in the third quarter of the year and totaled NIS 662 million.
In total, during the year 2023, the bank recorded expenses for credit losses amounting to NIS 1.879 billion.
Bank Hapoalim.
Distributed a dividend of NIS 2.258 billion in 2023/Reuven Castro
The bank's credit portfolio grew during the year at a rate of 4.8% and the public's deposits at the end of the year stood at NIS 554.6 billion, compared to NIS 532.6 billion at the end of 2022 - an increase of 4.1%.
Regarding the consequences of the war, Hapoalim points out that the estimate of the total benefits of the Bank of Israel outline (which includes exemption from fees and deferment of interest-free loan repayments and mortgages for the victims of the first cycle and reservists, alongside the possibility of deferring loan repayments for all customers without interest exemption), will be affected by the extent of their utilization by the customers and may reach to about NIS 470 million in full utilization.
The bank distributed a dividend of NIS 352 million, which is 20% of the net profit in the fourth quarter, following the instructions of the Bank of Israel given to the banking system on the subject.
This is a reduction in relation to the dividend distribution policy of up to 40% of the net profit.
The total amount of the dividend for the profits of 2023 is NIS 2.258 billion.
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