Net profit - totaled NIS 736 million, compared with a net profit of NIS 950 million in the corresponding quarter of 2018, a decline of approximately 22.5%.
Return on equity (ROE) - totaled 7.6%, compared with 10.7% in the corresponding quarter of 2018.
Net profit in the third quarter of 2019 was impacted by negative CPI of 0.7% (NIS 76 million) and the Bank's decision to accelerate the sale of its banking activity in Turkey.
The Bank recorded a loss of impairment of approximately NIS 63 million with regards to its investment in Bank Pozitif (Turkey). Excluding this effect, net profit in the third quarter totaled approximately NIS 798 million (ROE of 8.3%).
Dividend payment - NIS 1 billion paid in dividend with respect of capital surplus generated as a result of the sale of 65% of Isracard Ltd.
The magazine’s publisher: “This win testifies to Bank Hapoalim’s strong management and sound business strategy” * The award is considered the Oscars of the global banking industry * Bank President and CEO Arik Pinto: “Our win is international recognition that Hapoalim is the leading bank in Israel thanks to its strategy of ‘Personal, Human and Technological,’ the dedication of our employees and the loyalty of our customers”