Bank Hapoalim Posts Drop In Q4 Net Profit

Israel's Bank Hapoalim BM

reported a drop in its fourth-quarter net profit. Bank Hapoalim's quarterly net profit declined to 672 million shekels ($180.6 million), versus ILS713 in the year-ago quarter. Its banking income declined to ILS2.09 billion, from ILS2.13 billion. For the year, Bank Hapoalim's net profit climbed to ILS2.75 billion from ILS2.2 billion in 2010. Its annual banking income gained to ILS8.2 billion from ILS7.8 billion.