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Article: Union Bank H1 net profit triples to NIS 36m.
- Article from:
- Jerusalem Post
- Article date:
- August 22, 2005
- Author:
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YIGAL GRAYEFF
Jerusalem Post
08-22-2005
Headline: Union Bank H1 net profit triples to NIS 36m.
Byline: YIGAL GRAYEFF
Edition; Daily
Section: Economics
Page: 15
Monday, August 22, 2005 -- First-half net profit at Union Bank of Israel (Bank Igud) tripled to NIS 36m. from NIS 12m. in the same period a year earlier, helped by a sharp fall in its tax rate and in provisions for doubtful debt.
Income from financing operations before provisions for doubtful debt rose to NIS 293m. from NIS 234m., and operating and other revenue edged up to NIS 124m. from NIS 122m. Provisions for doubtful debt fell to NIS 83m. from NIS 100m. and the company's tax rate fell to 40.6% from 65.7%. Return on equity rose to ...