Bank Leumi Posts Decline In 2011 Net Profit

Bank Leumi Le-Israel BM BLMIF reported a drop in its 2011 net profit. Bank Leumi's net profit last year declined to 1.89 billion shekels ($507 million), versus ILS2.33 billion in 2010. Bank Leumi's banking income fell to ILS7.55 billion from ILS7.43 billion. Bank Leumi's fourth-quarter net profit rose to ILS618 million, versus ILS496 million, in the year-ago period.