Bank Leumi’s Profit Down By 50%

Bank Leumi profits in the second fiscal quarter of 2012 add up to NIS 280 million ($69.2 million) compared to NIS 564 million ($139.5 million) in Q2-2011, a staggering 50% drop, the bank announced Thursday.

The bank garnered a net profit of NIS 711 million ($175.85 million) this year compared to NIS 1.1 billion ($272 million) in the first half of 2011, a 36.4% decline. Net return during the first half of 2012 was 6% (annualized) compared to 10.1% in the first half of 2011.

Ynetnews