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(From Israel Business Arena)
Byline: Keren Tsuriel-Harari
A "Globes" study found that Bank Hapoalim (LSE:BKHD; TASE:POLI) and United Mizrahi Bank (TASE: MZRH) had the highest per employee contribution to net profit in the first quarter of 2003. Each Bank Hapoalim employee contributed NIS 23,000 to the bank's first quarter 2003 net profit. Each employee at Mizrahi Bank contributed NIS 18,300.
Mizrahi Bank had the lowest cost per employee among Israel's banks, at NIS 65,300, followed by Bank Hapoalim, at NIS 65,900.
The figures for Bank Hapoalim do not include the 793 employees laid off in the bank's streamlining plan. The lay-offs at the …