According to the lender, its debt provisions cost the bank $97.81m, up from $26.94m.
Banking income stood at $563m, down from $574m, due to increased economic uncertainty at the end of 2011.
For full year 2011, Hapoalim net profit grew to $741m from $593m year-over-year, owing to lower debt provisions, increased banking revenue and an upward adjustment to the fair value of derivative instruments.
For full year period, ITS banking income rose to $2.2bn from $2.1bn, due to more customers and higher interest rates, said the bank.
The bank has initiated a lot of corrective measures, which have made the bank stable enough to continue to grow and profit, despite increased economic uncertainty.
