Bank Leumi reports a 30% increase in the net income for Q3 2024, which amounted to NIS 2.3 billion ($620 million)
Bank Leumi reported strong Q3 2024 financial results with net income of NIS 2.3 billion ($620 million), representing a 29.8% increase from the previous year. Key highlights include a 15.5% return on equity, improved efficiency ratio of 31.1%, and capital return of NIS 917 million ($247 million). The bank showed robust growth with a 7.1% increase in loan portfolio and 8% growth in public deposits. Financial indicators remain strong with a liquidity coverage ratio of 124%, Tier 1 capital ratio of 12.07%, and total capital ratio of 14.77%. The bank maintains high portfolio quality with low NPL ratio of 0.52% and troubled debts at 1.44%.
Bank Leumi ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con un utile netto di 2,3 miliardi di NIS (620 milioni di dollari), che rappresenta un aumento del 29,8% rispetto all'anno precedente. Tra i punti salienti ci sono un ritorno sul capitale del 15,5%, un rapporto di efficienza migliorato del 31,1% e un ritorno di capitale di 917 milioni di NIS (247 milioni di dollari). La banca ha mostrato una robusta crescita con un incremento del 7,1% nel portafoglio prestiti e una crescita dell'8% nei depositi pubblici. Gli indicatori finanziari rimangono solidi con un rapporto di copertura della liquidità del 124%, un rapporto di capitale di base del 12,07% e un rapporto di capitale totale del 14,77%. La banca mantiene un'alta qualità del portafoglio con un basso rapporto di prestiti non performing (NPL) dello 0,52% e debiti problematici all'1,44%.
Bank Leumi reportó resultados financieros sólidos para el tercer trimestre de 2024, con un ingreso neto de 2.3 mil millones de NIS (620 millones de dólares), lo que representa un aumento del 29.8% en comparación con el año anterior. Los aspectos destacados incluyen un retorno sobre el capital del 15.5%, un ratio de eficiencia mejorado del 31.1%, y un retorno de capital de 917 millones de NIS (247 millones de dólares). El banco mostró un fuerte crecimiento con un aumento del 7.1% en la cartera de préstamos y un crecimiento del 8% en depósitos públicos. Los indicadores financieros se mantienen sólidos con un ratio de cobertura de liquidez del 124%, un ratio de capital de nivel 1 del 12.07%, y un ratio de capital total del 14.77%. El banco mantiene una alta calidad de cartera con un bajo ratio de préstamos no rentables (NPL) del 0.52% y deudas problemáticas del 1.44%.
은행 르우미는 2024년 3분기 재무 결과를 발표하며 순익 23억 니스(6억 2천만 달러)를 기록하여 전년 대비 29.8% 증가했다고 밝혔습니다. 주요 하이라이트로는 자기자본 수익률 15.5%, 개선된 효율 비율 31.1%, 자본 반환 9억 1천7백만 니스(2억 4천7백만 달러)가 있습니다. 은행은 대출 포트폴리오가 7.1% 증가하고 공적 예금이 8% 성장하는 등 강력한 성장을 보여주었습니다. 재무 지표는 유동성 비율 124%, 일급 자본 비율 12.07%, 총 자본 비율 14.77%로 강력한 상태를 유지하고 있습니다. 은행은 저조한 문제 대출 비율 0.52%와 문제 부채 1.44%로 높은 포트폴리오 품질을 유지하고 있습니다.
Bank Leumi a annoncé des résultats financiers solides pour le troisième trimestre 2024, avec un revenu net de 2,3 milliards de NIS (620 millions de dollars), représentant une augmentation de 29,8% par rapport à l'année précédente. Les points saillants incluent un retour sur capitaux propres de 15,5%, un ratio d'efficacité amélioré de 31,1%, et un retour de capital de 917 millions de NIS (247 millions de dollars). La banque a montré une croissance robuste avec une augmentation de 7,1% de son portefeuille de prêts et une croissance de 8% des dépôts publics. Les indicateurs financiers restent solides avec un ratio de couverture de liquidité de 124%, un ratio de capital de niveau 1 de 12,07%, et un ratio de capital total de 14,77%. La banque maintient une haute qualité de portefeuille avec un faible ratio de prêts non performants (NPL) de 0,52% et des dettes problématiques de 1,44%.
Bank Leumi berichtete von soliden finanziellen Ergebnissen für das dritte Quartal 2024, mit Nettoeinkommen von 2,3 Milliarden NIS (620 Millionen US-Dollar), was einem Anstieg von 29,8% im Vergleich zum Vorjahr entspricht. Zu den wichtigsten Highlights gehören eine Eigenkapitalrendite von 15,5%, eine verbesserte Effizienzquote von 31,1% und ein Kapitalrückfluss von 917 Millionen NIS (247 Millionen US-Dollar). Die Bank zeigte robustes Wachstum mit einem Anstieg des Kreditportfolios um 7,1% und einem Wachstum der öffentlichen Einlagen um 8%. Die finanziellen Indikatoren bleiben stark mit einer Liquiditätsquote von 124%, einer Tier-1-Kapitalquote von 12,07% und einer Gesamtkapitalquote von 14,77%. Die Bank hält eine hohe Portfolioprüfungsqualität mit einem niedrigen NPL-Verhältnis von 0,52% und notleidenden Krediten von 1,44%.
- Net income increased 29.8% YoY to NIS 2.3 billion ($620 million)
- Return on equity improved to 15.5% from 13.6% YoY
- Loan portfolio grew 7.1% YoY
- Public deposits increased 8% YoY
- Strong capital position with 12.07% Tier 1 ratio
- Low NPL ratio at 0.52% and troubled debts at 1.44%
- Retail credit decreased by 2.6% YoY
- Liquidity coverage ratio declined to 124% from 130% YoY
- Non-interest income decreased 30.2% in Q3 YoY
- Net income for Q3 2024: NIS 2.3 billion (
$620 million NIS 1.8 billion ($485 million 29.8% increase - Return on equity in Q3 2024:
15.5% compared with13.6% in the corresponding period last year - Capital return on Q3 2024 amounts to
NIS 917 million ($247 million NIS 688 million ($185 million 40% of the net income for the quarter - Efficiency ratio:
31.1% in Q3 2024,29.6% for the first nine months of the year - The loan portfolio was up by
7.1% compared with the corresponding period last year; deposits by the public were up by8% compared with the corresponding period last year - Loan portfolio quality: NPL ratio and rate of troubled debts continue to be low, standing at
0.52% and1.44% respectively - Robust financial indicators: liquidity coverage ratio of
124% , Tier 1 capital ratio of12.07% and total capital ratio of14.77%
Net income in the third quarter of 2024 amounted to
Return on equity in the third quarter of 2024 was
The efficiency ratio in Q3 2024 was
Capital return in Q3 2024 amounts to
The loan portfolio in Q3 2024 increased by
Deposits by the public in Q3 2024 increased by
Responsible growth in the loan portfolio in strategic segments: The Bank continues to focus its growth on the credit portfolio in the corporate, commercial and mortgage segments. Since the beginning of the year, the credit portfolio grew by a total rate of
Loan portfolio quality: NPL ratio and rate of troubled debts continue to be low, standing at
Loan loss expenses in the third quarter of 2024 reflect an expense rate of
High capital adequacy: Common equity tier 1 capital ratio as at September 30, 2024 was
Liquidity coverage ratio as at September 30, 2024 was
The Bank's initiatives due to the war: The Bank implemented many initiatives for the benefit of the general public and its customers, including a series of unique benefits for IDF reservists, business owners and self-employed.
These initiatives are part of Leumi's policy to expand the Bank of
In addition, since the outbreak of the war, the Bank made substantial donations to residents of the southern and northern confrontation lines, IDF soldiers - both on active and reserve duty, hospitals and first responder and aid organizations.
In addition, the Bank initiated and financed a series of projects to rehabilitate southern
and the "Bank Leumi Wedding Project", under which the bank funded weddings to dozens of reservist couples whom served an extended period of reserve duty during the war.
The updated cost of the reliefs and donations provided during the war is estimated at
Development of balance sheet items:
Shareholders' equity as at September 30, 2024 totaled
Net credit to the public as at September 30, 2024 totaled
Housing loans (mortgages) as at September 30, 2024 totaled
Credit to retail customers as at September 30, 2024 totaled
Credit to small businesses as at September 30, 2024 totaled
Middle-market credit as at September 30, 2024 totaled
Corporate credit as at September 30, 2024 totaled
Deposits by the public as at September 30, 2024 totaled
Deposits by retail customers as at September 30, 2024 totaled
Deposits by small businesses as at September 30, 2024 totaled
CET1 capital ratio as at September 30, 2024 was
Total capital ratio as at September 30, 2024 was
Leumi Group - Key Financials
Profit and profitability (in NIS million) | ||||
For the three months ended September 30 | Change in NIS million
| Change in %
| ||
2024 | 2023 | |||
Net Interest income | 4,545 | 3,935 | 610 | 15.5 |
Loan loss expenses | 312 | 991 | (679) | (68.5) |
Non-interest income | 978 | 1,401 | (423) | (30.2) |
Operating and other expenses | 1,716 | 1,722 | (6) | (0.3) |
Profit before tax | 3,495 | 2,623 | 872 | 33.2 |
Provision for tax | 1,285 | 866 | 419 | 48.4 |
Profit after tax | 2,210 | 1,757 | 453 | 25.8 |
The Bank's share in profits of associates | 83 | 10 | 73 | 730 |
Net income attributable to the bank's shareholders | 2,293 | 1,767 | 526 | 29.8 |
Return on equity (%) | 15.5 | 13.6 | ||
Earnings per share (NIS) | 1.51 | 1.15 | ||
Profit and profitability (in NIS million) | ||||
For the nine months ended September 30 | Change in NIS million
| Change in %
| ||
2024 | 2023 | |||
Net Interest income | 12,690 | 12,147 | 543 | 4.5 |
Loan loss expenses | 516 | 1,715 | (1,199) | (69.9) |
Non-interest income | 4,871 | 3,884 | 987 | 25.4 |
Operating and other expenses | 5,192 | 5,034 | 158 | 3.1 |
Profit before tax | 11,853 | 9,282 | 2,571 | 27.7 |
Provision for tax | 4,128 | 3,119 | 1,009 | 32.4 |
Profit after tax | 7,725 | 6,163 | 1,562 | 25.3 |
The Bank's share in profits (losses) of associates | (378) | (962) | 584 | 60.7 |
Net income attributable to the bank's shareholders | 7,347 | 5,201 | 2,146 | 41.3 |
Return on equity (%) | 17.1 | 13.6 | ||
Earnings per share (NIS) | 4.83 | 3.38 | ||
Development of balance sheet items (in NIS millions) | |||
As at September 30 | Change in %
| ||
2024 | 2023 | ||
Net loans to the public | 446,951 | 417,261 | 7.1 |
Deposits by the public | 588,305 | 544,519 | 8.0 |
Shareholders' equity | 60,258 | 52,518 | 14.7 |
Total assets | 753,639 | 700,761 | 7.5 |
Principal financial ratios (%) | ||
As at September 30 | ||
2024 | 2023 | |
Net loans to the public to total assets | 59.3 | 59.5 |
Deposits by the public to total assets | 78.1 | 77.7 |
Total equity to risk assets | 14.77 | 14.42 |
Tier 1 capital to risk assets | 12.07 | 11.30 |
Leverage ratio | 7.01 | 6.73 |
Liquidity coverage ratio | 124 | 130 |
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
Conference Call Details
A conference call for analysts and investors will be held today at 5 PM (
To access the conference call please use one of the numbers below (no passcode required):
US &
All other locations: +972-3-918-0610
Please allow sufficient time for registration.
The conference call and webcast will make use of a presentation which will be published on the day of the publication of the Financial Results on the Israeli Securities Authority reporting website (MAGNA) and on the Leumi website under Investor Relations.
An archived recording of the webcast will be available on the Leumi website one business day after the publication of results.
For more information visit the investor relations page on our website or contact Michael Klahr, VP, Head of Investor Relations, at investorrelations@bankleumi.co.il
The conference call and webinar 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.
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SOURCE Bank Leumi
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