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Net income – NIS 2 billion ($571 million) in the second quarter and NIS 3.6 billion ($1.03 billion) in the first half of the year
Return on equity – 18.5% in Q2 and 17.1% in H1
Credit portfolio – 12.3% growth in H1
Further improvement in the efficiency ratio – 35% for Q2 and 39.7% for H1 2022
Leumi to distribute a NIS 400 million ($114 million) dividend
TEL AVIV, Israel, Aug. 16, 2022 /PRNewswire/ —
Development of balance sheet items (a) :
Leumi Group – Principal Data from the Financial Statements
Profit and Profitability (in NIS millions) |
|||||
For the six months ended June 30 |
Change in NIS |
Change in % |
|||
2022 |
2021 |
||||
Net Interest income |
6,024 |
5,122 |
902 |
17.6 |
|
Loan loss expenses (income) |
86 |
(370) |
456 |
+ |
|
Non-interest income |
2,507 |
2,906 |
(399) |
(13.7) |
|
Operating and other expenses |
3,435 |
3,697 |
(262) |
(7.1) |
|
Profit before tax |
5,010 |
4,701 |
309 |
6.6 |
|
Provision for tax |
1,490 |
1,703 |
(213) |
(12.5) |
|
Profit after tax |
3,520 |
2,998 |
522 |
17.4 |
|
Bank’s share in associates’ profits |
91 |
29 |
62 |
+ |
|
Net income attributable to non-controlling |
(10) |
(20) |
10 |
50.0 |
|
Net income attributable to the banking |
3,601 |
3,007 |
594 |
19.8 |
|
Return on equity (%) |
17.1 |
15.5 |
|||
Earnings per share (NIS) |
2.47 |
2.07 |
|||
Development of Balance Sheet Items (in NIS millions) (a) |
|||
As at June 30 |
December 31 2021 |
||
2022 |
2021 |
||
Net Loans to the public |
364,924 |
297,827 |
324,956 |
Deposits by the public |
532,737 |
463,625 |
514,968 |
Shareholders’ equity |
47,060 |
40,848 |
41,610 |
Total assets |
667,680 |
572,466 |
632,802 |
Principal Financial Ratios (%) |
|||
As at June 30 |
December 31 2021 |
||
2022 |
2021 |
||
Net loans to the public to total assets (a) |
54.7 |
52.0 |
51.4 |
Deposits by the public to total assets (a) |
79.8 |
81.0 |
81.4 |
Total equity to risk assets |
14.00 |
14.93 |
14.21 |
Total Tier 1 equity to risk assets |
11.25 |
11.98 |
11.50 |
Leverage ratio |
6.25 |
6.45 |
6.06 |
Liquidity coverage ratio |
122 |
129 |
124 |
a. The data does not include the balances of Leumi USA, which – as of April 1, 2022 – is not consolidated in the Bank’s |
The data in this press release has been converted into US dollars solely for convenience purposes, at the representative exchange rate published by the Bank of Israel on June 30, 2022, NIS 3.50.
Conference Call Details
A conference call to discuss the results will be held today at 5 PM (Israel); 3 PM (UK); 10:00 AM (ET).
Conference Call Dial-in Details (no passcode required):
Israel: 03-9180610
UK: 0-800-917-9141
US & Canada: 1-888-407-2553
All other locations: +972-3-918-0610
The call will be accompanied by a presentation which will be published today on the Israeli Securities Authority reporting website (MAGNA). It will also be available on the Leumi website under Investor Relations, in the Financial Statements page, Investor Presentation and Conference Call.
An archived recording will be available on the Leumi website one business day after the call ends.
For more information visit www.leumi.co.il or contact Adi Molcho Weinstein, VP, Head of Investor Relations, at investorrelations@bankleumi.co.il
The conference call does not replace the need to review the latest periodic/quarterly reports containing full information, including forward-looking information, as defined in the Israeli Securities Law, and set out in the aforementioned reports.
Photo: https://mma.prnewswire.com/media/1824592/Leumi_CEO.jpg
SOURCE Bank Leumi
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