Leumi UK Annual Report FY2019
Posted: 25th March 2020 | Share
Highlights of the Year Include:
- Net profit of £10.0 million, compared with £10.9 million in 2018.
- Tier 1 capital ratio of 16.7%, compared with 15.5% in 2018.
- Reduction of £2.0 million in respect of credit impairment allowances, compared with a reduction of £0.7 million in 2018.
- Operating income before provisions for continuing operations of £48.0 million, compared with £54.1 million in 2018.
- Administrative expenses for continuing operations of £35.8 million, compared with £36.7 million in 2018.
- Customer lending of £1,137 million, compared with £1,207 million in 2018, a decrease of £70 million or 6%, following continued wind-down of Media Finance and Executive Mortgages.
- Customer deposits of £722 million, compared with £923 million in 2018, a decrease of £201 million or 22%, due to a reduction in current account balances and a continued drive to exit customers who do not align with the Bank’s business strategy and risk appetite.