Bank Hapoalim Posts Lower Q4 Profit

Bank Hapoalim BM BKHYY reported a drop in its net profit for the fourth quarter. The bank's quarterly net profit declined to 625 million shekels ($169 million), versus ILS672 million, in the year-ago period. Its revenue climbed to ILS3.43 billion from ILS3.24 billion. For 2012, its net profit fell to ILS2.54 billion from ILS2.75 billion, while revenue climbed to ILS13.6 billion from ILS13.1 billion.