Leumi reports a net profit of NIS 622 million
($171 million) in the first quarter of 2017 – an increase of 36% compared with the corresponding period last year
For the first time in 6 years, the Bank will distribute NIS 124 million ($34 million) in dividends
In accordance with the Bank's Strategy:
Balance sheet parameters:
Leumi Group -Principal Data from the Financial Statements
Profit and Profitability (in NIS millions)
|
For the three months ended March 31 |
For the year ended December 31 |
||
---|---|---|---|---|
2017 |
2016 |
Change in % |
2016 |
|
Net interest income |
1,873 |
1,655 |
13.2 |
7,526 |
Credit loss expenses (income) |
101 |
(123) |
+ |
(125) |
Net interest income after credit loss expenses |
1,772 |
1,778 |
(0.3) |
7,651 |
Non-interest income |
1,287 |
1,032 |
24.7 |
5,408 |
Operating and other expenses |
2,050 |
1,990 |
3.0 |
8,580 |
Net profit attributed to shareholders of the bank |
622 |
459 |
35.5 |
2,791 |
Development of Balance Sheet Items (in NIS millions)
|
March 31 |
December 31 |
Change in % |
---|---|---|---|
Net credit to the public |
264,707 |
261,913 |
1.1 |
Deposits of the public |
341,663 |
346,854 |
(1.5) |
Shareholders' equity |
32,255 |
31,347 |
2.9 |
Assets under management of the Group |
1,304,310 |
1,259,284 |
3.6 |
Principal Financial Ratios (%)
|
March 31 |
December 31 |
|
---|---|---|---|
|
2017 |
2016 |
2016 |
Net credit to the public to total assets |
60.8 |
62.1 |
59.7 |
Deposits of the public to total assets |
78.5 |
77.6 |
79.1 |
Deposits of the public to net credit to the public |
129.1 |
125.1 |
132.4 |
Total equity to risk assets |
14.82 |
14.28 |
15.21 |
Total Tier 1 equity to risk assets |
11.02 |
9.96 |
11.15 |
Leverage ratio |
6.85 |
6.35 |
6.77 |
Liquidity coverage ratio |
131 |
125 |
132 |
Expenses in respect of credit losses out of net credit to the public |
0.15 |
(0.19) |
(0.05) |
Of which: expenses in respect of collective allowance |
0.20 |
0.23 |
0.24 |
Interest margin |
1.74 |
1.67 |
1.75 |
Operating and other expenses to total income |
64.9 |
74.1 |
66.3 |
The data in this press release has been converted into US dollars solely for convenience, at the representative rate of exchange published by the Bank of Israel prevailing on March 31, 2017, NIS