Bank Hapoalim Net Profits Up 19.5%, Sets Asia Expansion

Israel's largest lender reports higher-than-expected rise in quarterly net profit, boosted by an increase in financing income and a gain in its provision for credit losses.

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Bank Hapoalim, Israel’s largest lender, turned in a 19.5% increase in second-quarter profit and said it was expanding its operations in Asia by opening an office in Shanghai.