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Israel's Mizrahi Tefahot Bank Q1 profit falls, loan provisions rise

Jun 01, 2020 - Nasdaq
Financial Results

JERUSALEM, May 31 (Reuters) - Mizrahi Tefahot MZTF.TA , Israel's third-largest bank, reported an 11.6% decline in quarterly profit amid a sharp rise in credit loss provisions due to the coronavirus outbreak. Mizrahi said on Sunday it earned 357 million shekels ($102 million) in the January-March period, down from 404 million a year earlier and compared with expectations of 253 million in a Reuters poll of analysts. Interest income rose 9.5% to 1.41 billion shekels, while credit loss expenses g...