Bank Hapoalim Announces 2019 Annual Financial Results
BANK HAPOALIM B.M. S/ADR (BKHYY)
NASDAQ:AMEX Investor Relations:
bankhapoalim.com/wps/portal/int/lobbyir
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Source: GlobeNewswire
TEL AVIV, Israel, March 19, 2020 (GLOBE NEWSWIRE) -- Bank Hapoalim (TASE: POLI) (ADR: BKHYY), today announced its financial results for the fourth quarter and full year ended December 31, 2019. Key financial highlights: The bank's credit portfolio continues to grow – Net credit to the public totaled NIS 292.9 billion, compared with NIS 282.5 billion at the end of 2018, an increase of 3.7%.The improvement in quality of the bank's retail credit portfolio continued in 2019 – The provision for credit losses of private customers totaled NIS 220 million in 2019, compared with NIS 455 million in 2018, a decrease of 51.7%.Growth in housing credit – The portfolio of housing credit in Israel totaled NIS 89.3 billion, compared with NIS 81.0 billion at the end of 2018, an increase of 10.2%.Growth in commercial credit – Commercial credit totaled NIS 40.1 billion, compared with NIS 37.5 billion at the end of 2018, an increase of 7.1%.Human capital – The bank signed a wage agreement for 2018-2
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