The cost-income ratio for the first quarter of 2022 stood at 50.9%, compared with 54.2% in full-year 2021, indicating increased efficiency.
Bank Hapoalim had a strong first quarter of 2022, the bank said in its quarterly report published on Tuesday.
Hapoalim’s net profit in the first quarter of 2022 totaled NIS 1.654 billion, and its return on equity (ROE) for the quarter stood at 15.6%, the bank reported.
Net credit to the public in the first quarter of 2022 totaled NIS 364.3 b., compared to NIS 352.6 b. in the preceding quarter, an increase of 3.3%.
In addition, corporate credit increased by 2.7% and commercial credit increased by 3.7%, the bank reported.
The housing loan portfolio grew by NIS 4.7 billion in the first quarter to NIS 119.3 b., reflecting a 4.1% growth compared to the end of 2021.
Consumer credit decreased slightly by 1.2% compared with the preceding quarter but increased by 3.8% versus the corresponding quarter last year. Small business credit grew by 1.4% and 10.3%, quarter-on-quarter and year-on-year, respectively.
The cost-income ratio for the first quarter of 2022 stood at 50.9%, compared with 54.2% in full-year 2021, indicating increased efficiency.