Bank Hapoalim, headed by Yadin Antebi, posted a net profit of NIS 2.5 billion for the second quarter, 2% lower than in the corresponding quarter of 2025. This year’s second quarter was impacted by the decline in the interest rate environment and the special tax imposed on the banks, which will cost Bank Hapoalim an estimated NIS 950 million this year. On the other hand, the bank said that the positive business situation in Israel supported its performance in the quarter.
The bank’s return on equity in the second quarter was an annualized 15%, and would have been 16% were it not for the special bank tax. In the second quarter of 2025, the return on equity was 16.7%.
Bank Hapoalim’s credit portfolio continued to grow rapidly, a trend that has been characteristic of all Israel’s banks in the past two years. In the six months to the end of June it grew by 6.6%. Corporate and commercial credit grew by 10%. Non-performing loans amounted to 0.50% of credit to the public.
The credit loss expense in the second quarter was NIS 298 million, slightly down from NIS 302 million in the corresponding quarter. The credit loss expense as a proportion of the average credit balance was an annualized 0.22%.
Bank Hapoalim’s board of directors has declared a dividend of half the quarterly profit, or NIS 1.24 billion, of which NIS 995 million will be distributed in cash and NIS 249 million will be in the form of a buyback of shares.
For the first half year, Bank Hapoalim’s net profit totaled NIS 4.6 billion, 14% lower than in the first half of 2025. The annualized return on equity fell to 14% from 16.5% in the first half of last year. As mentioned, the special bank tax and lower interest rates were mainly responsible for the decline.
Published by Globes, Israel business news - en.globes.co.il - on August 11, 2026.
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