Bank Hapoalim profit up 48% in Q3 Amid Rate Hikes

Created By Fintech Team

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.

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

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.

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

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

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

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