Hapoalim Q2 net sinks 31% but beats forecasts

Bank Hapoalim (TASE: POLI ) today reported that its second-quarter 2002 net profit dived 30.5% from the same quarter of last year to NIS 223 million.

Provision for doubtful debt soared to NIS 401 million for the second quarter, 140% more than in the corresponding quarter of 2001.

The bank's yield on equity was 6.8%, in annualized terms, compared with 10.2% in the parallel quarter of last year and 7.6% for the year 2001.

More from Technology

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Some Companies Are Already Feeling the Effect of GDPR

Some Companies Are Already Feeling the Effect of GDPR

Experts Break Down GDPR Risks for Investors

Experts Break Down GDPR Risks for Investors

Netflix Ready to Surpass Disney as America's Most Valuable Media Company

Netflix Ready to Surpass Disney as America's Most Valuable Media Company