Israel · Delayed Price · Currency is ILS · Price in ILA Bank Hapoalim B.M. Earnings Call Transcripts
Fiscal Year 2026
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Q2 net profit reached ILS 2.5bn and ROE was 15% ( ~16.4% excluding the special bank tax), alongside 6.6% YTD credit growth and a 0.50% NPL ratio. FY 2026 profit guidance is ILS 8.5bn–9.5bn.
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Q1 net profit reached ILS 2.1bn with 13% ROE, strong lending growth and improving credit quality. 2026 guidance reflects the special bank tax, while capital returns remain targeted at 50%–60%.
Fiscal Year 2025
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FY2025 delivered ILS 9.8 billion net profit, 15.9% ROE and 13.4% loan growth, with strong credit metrics and 50% shareholder payout. 2026–2027 targets call for ILS 9–10 billion profit and 8%–9% loan growth.
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9M net profit reached ILS 7.3bn and ROE 16.1%, excluding ILS 380m insurance income, with credit up 8.1% YTD. Strong capital and asset quality supported a 50% Q3 payout, while economic and geopolitical uncertainty kept provisions elevated.
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Q2 net income was ILS 2.5B, ROE was 16.7%, and credit grew 12.7% YoY as financing income and fees advanced. The payout ratio rose to 50%, while provisioning and outlook remain sensitive to geopolitical and economic conditions.
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Q1 net income rose 25% YoY to ILS 2.4bn, with 16.4% ROE and broad-based credit growth. 2025–2026 targets remain ILS 8.5bn–9.5bn net profit and 7% average annual loan growth, subject to macro and regulatory conditions.
Fiscal Year 2024
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2024 delivered 13.8% ROE, 8.9% credit growth and improving asset quality despite a ~ILS 600m retirement-plan charge. Targets for 2025–26 call for ILS 8.5bn–9.5bn net profit and at least 50% payout, subject to conditions.
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Q3 ROE was 13.6%, with credit up 3.4% QoQ and strong credit-quality ratios. War-related reserve building and ILS 300m in bond-sale losses weighed on results; capital distributions remained 40% of quarterly profit.
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Q2 net profit reached ILS 2.2bn with 16.4% ROE, strong credit quality and substantial capital and liquidity buffers. A ILS 1bn buyback was announced, while future reserve releases and higher distributions depend on easing war-related uncertainty.
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Q1 ROE reached 14.6%, with CET1 of 12.11% supporting a 40% dividend payout. Credit quality remained strong, while war-related uncertainty, inflation pressures and sovereign downgrades cloud the outlook.
Fiscal Year 2023
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FY23 net profit rose almost 13% to ILS 7.4B, with 15% ROE and a 38.5% cost-income ratio. Credit grew 4.8%, while an ILS 8B allowance and strong capital and liquidity buffers supported resilience amid war-related uncertainty.
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Q3 ROE was 13.4%, supported by disciplined credit growth and strong capital and reserve buffers, while income declined as interest-rate tailwinds faded. War-related relief costs could reach ILS 420 million, mainly in Q4, depending on customer uptake.
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Net profit was ILS 1.9B, with 15.8% ROE and 40% YoY income growth, supported by core banking activity. Credit quality, capital, and liquidity remained strong as macro risks rose and supportive rate and inflation effects neared exhaustion.
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Q1 net profit exceeded ILS 2bn with 17% ROE and nearly 40% YoY income growth. Strong capital and liquidity supported a 40% payout, while slower credit demand and ongoing reserve builds temper the outlook.
Fiscal Year 2022
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FY2022 profit reached ILS 6.5bn as ROE rose to 14.8% and positive jaws strengthened. Credit quality, capital and liquidity remained robust; management targets double-digit ROE and costs growing below inflation amid macro uncertainty.
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Q3 net income reached ILS 1.78 billion with 15.9% ROE, supported by rate-sensitive financing income and disciplined costs. Credit quality remained strong, while management anticipated eventual normalization in credit losses and continued to monitor real estate and deposit behavior.
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Q2 net profit was ILS 1.34bn with 12.3% ROE, supported by financing income and fee growth, while lending growth was moderated amid uncertainty. Strong deposits and rate sensitivity support further income potential; CET1 was 11.14%.
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Q1 net income reached a record ILS 1.65bn, with 15.6% ROE and CET1 of 11.17%. Credit growth moderated, while rate sensitivity supports financing-income upside; dividends may resume from Q2, subject to conditions.