JERUSALEM (dpa-AFX) - Bank Hapoalim B.M. (BKHYY), an Israeli banking group, on Tuesday reported lower profit for the second quarter of 2026, primarily due to higher provision for taxes on profit.
Net profit attributable to shareholders of the Bank fell 2.1% to NIS 2.488 billion from NIS 2.542 billion in the prior-year period.
Provision for taxes on profit rose 22.6% to NIS 1.812 billion from NIS 1.478 billion.
Profit before taxes, however, increased 6.4% to NIS 4.286 billion from NIS 4.030 billion a year ago.
Net financing profit increased 2.7% to NIS 5.434 billion from NIS 5.293 billion.
Net interest income edged up 0.6% to NIS 4.825 billion from NIS 4.796 billion last year, while non-interest financing income rose 22.5% to NIS 609 million from NIS 497 million.
Provision for credit losses was NIS 298 million, slightly lower than NIS 302 million a year earlier. As a result, net financing profit after provision for credit losses increased 2.9% to NIS 5.136 billion from NIS 4.991 billion.
Fees and other income rose 1.5% to NIS 1.169 billion from NIS 1.152 billion.
Return on net profit declined to 15.0% from 16.7%.
For the full year, Bank Hapoalim continues to expect net profit of NIS 8.5 billion-NIS 9.5 billion and return on equity of 13%-14%.
In Tel Aviv, Bank Hapoalim shares were up more than 1% at ILA 7,501.
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