Bank Hapoalim profit up 48% in Q3 Amid Rate Hikes

Bank Hapoalim reported a 48% increase in profit for the third quarter of 2022 to NIS 1.79 billion, helped by an increase in interest rates.

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The bank made a substantial net profit thanks to a successful first half of the year.

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Estimated earnings for the first nine months of 2022 is roughly NIS 4.8 billion, an increase of 20% from the same time in 2021.

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Revenue for Bank Hapoalim increased by 30.4% from the same quarter in 2021 to NIS 4.753 billion in the third quarter

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The third quarter of 2022 had a net credit to the public at NIS 381.6 billion.

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Compared to the end of 2021, net credit to the public increased by 8.2%

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The recent quarters' broad-based growth in the credit portfolio was caused by the shifting macroeconomic landscape.

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