Return on Equity of 9.9% Net Profit totaled NIS 655 million Core Tier 1 Capital rose to 9.2% Bank to payout a cash dividend of 15% of net profit TEL AVIV, Israel, Aug. 29, 2013 (GLOBE NEWSWIRE) -- Bank Hapoalim (TASE:POLI) (ADR:BKHYY), Israel's leading financial group, today announced financial results for the second quarter ended June 30, 2013. Second Quarter 2013 Financial Highlights:
- Return on equity reached 9.9%, on an annualized basis, up from 9.5% in the first quarter of 2013.
- Net profit totaled NIS 655 million up from a profit of NIS 621 million in the first quarter of 2013.
- Profit from regular financing activity totaled NIS 1,864 million, up from NIS 1,773 million in the first quarter of 2013.
- Operating and other expenses totaled NIS 2,135 million similar to the first quarter of 2013.
- Shareholders' Equity totaled NIS 27,808 million as at June 30, 2013, up from NIS 26,755 million at the end of 2012.
- Core Tier 1 Capital ratio continued its trend of improvement and rose to 9.2% compared with 8.9% at the end of 2012.
- Quarterly Dividend - The Bank's Board of Directors approved the continuation of the quarterly cash dividend distribution, at a rate of approximately 15% of net profit, from its second quarter 2013 earnings in the amount of NIS 92 million. Since the beginning of the year, the Bank paid out NIS 184 million.