Bank Mizrahi Reports 3rd Quarter Results

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Mizrachi

Bank Mizrahi-Tefahot announced lower profits of only 7%, which came to a total of NIS 422 million in the third quarter. For the first nine months of the year, Mizrahi-Tefahot  earned NIS 1.4 billion, which is up 40% from the year earlier. The bank also announced it had reached an agreement with the US Justice Department and agreed to pay a fine of $195 million. 

For Q3, Mizrahi-Tefahot’s return on equity stood at 11.1%, compared to 13.4% a year ago. At the end of September, the bank’s loan portfolio came to NIS 202.5 billion, which is up 7% from the size of the portfolio a year ago. Mizrahi-Tefahot announced it would issue a dividend of NIS 169 million to its shareholders.

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