Bank Leumi reports a 40% increase in the net income for 2024, which amounted to NIS 9.8 billion ($2.7 billion); ROE - 17%; Capital return in 2024 totals approx. NIS 4 billion ($1.1 billion)
Bank Leumi reported strong financial results for 2024, with net income reaching NIS 9.8 billion ($2.7 billion), marking a 40% increase from 2023. The bank achieved a Return on Equity (ROE) of 16.9% and maintained the best efficiency ratio among Israeli banks at 29.9%.
Key highlights include an 8.6% growth in loan portfolio and 8.9% increase in public deposits. The bank demonstrated robust portfolio quality with low NPL ratio (0.5%) and troubled debts (1.4%). Capital return for 2024 totaled approximately NIS 4 billion ($1.1 billion), comprising both cash dividends and share buybacks.
Looking ahead, Bank Leumi announced strategic financial targets for 2025-2026, including annual net income of NIS 9-11 billion, ROE of 15-16%, and capital return of at least 50% of net income each year. The bank maintains strong capital adequacy with a Tier 1 capital ratio of 12.17% and total capital ratio of 14.83%.
Bank Leumi ha riportato risultati finanziari solidi per il 2024, con un reddito netto che ha raggiunto NIS 9,8 miliardi (2,7 miliardi di dollari), segnando un aumento del 40% rispetto al 2023. La banca ha ottenuto un Rendimento del Capitale Proprio (ROE) del 16,9% e ha mantenuto il miglior rapporto di efficienza tra le banche israeliane, pari al 29,9%.
I punti salienti includono una crescita dell'8,6% nel portafoglio prestiti e un aumento dell'8,9% nei depositi pubblici. La banca ha dimostrato una qualità del portafoglio robusta con un basso rapporto di crediti non performanti (0,5%) e debiti problematici (1,4%). Il ritorno di capitale per il 2024 è stato di circa NIS 4 miliardi (1,1 miliardi di dollari), comprendente sia dividendi in contante che riacquisti di azioni.
Guardando al futuro, Bank Leumi ha annunciato obiettivi finanziari strategici per il 2025-2026, inclusi un reddito netto annuale di NIS 9-11 miliardi, un ROE del 15-16% e un ritorno di capitale di almeno il 50% del reddito netto ogni anno. La banca mantiene una forte adeguatezza patrimoniale con un rapporto di capitale di base del 12,17% e un rapporto di capitale totale del 14,83%.
Bank Leumi reportó resultados financieros sólidos para 2024, con un ingreso neto que alcanzó NIS 9.8 mil millones (2.7 mil millones de dólares), marcando un aumento del 40% en comparación con 2023. El banco logró un Retorno sobre el Patrimonio (ROE) del 16.9% y mantuvo la mejor relación de eficiencia entre los bancos israelíes, con un 29.9%.
Los aspectos destacados incluyen un crecimiento del 8.6% en la cartera de préstamos y un aumento del 8.9% en los depósitos públicos. El banco demostró una calidad de cartera robusta con un bajo índice de préstamos no productivos (0.5%) y deudas problemáticas (1.4%). El retorno de capital para 2024 totalizó aproximadamente NIS 4 mil millones (1.1 mil millones de dólares), que comprende tanto dividendos en efectivo como recompra de acciones.
De cara al futuro, Bank Leumi anunció objetivos financieros estratégicos para 2025-2026, incluidos un ingreso neto anual de NIS 9-11 mil millones, un ROE del 15-16% y un retorno de capital de al menos el 50% del ingreso neto cada año. El banco mantiene una sólida adecuación de capital con un ratio de capital de nivel 1 del 12.17% y un ratio de capital total del 14.83%.
Bank Leumi는 2024년 강력한 재무 결과를 보고했으며, 순이익은 NIS 98억 (27억 달러)에 달해 2023년 대비 40% 증가했습니다. 이 은행은 자기자본이익률(ROE) 16.9%를 달성했으며, 이스라엘 은행 중에서 가장 높은 효율성 비율인 29.9%를 유지했습니다.
주요 하이라이트로는 대출 포트폴리오가 8.6% 성장하고 공공 예금이 8.9% 증가했습니다. 이 은행은 낮은 NPL 비율(0.5%)과 문제 채무(1.4%)로 강력한 포트폴리오 품질을 입증했습니다. 2024년 자본 반환은 약 NIS 40억 (11억 달러)에 달하며, 현금 배당금과 자사주 매입이 포함됩니다.
앞으로 Bank Leumi는 2025-2026년을 위한 전략적 재무 목표를 발표했으며, 연간 순이익 목표는 NIS 90-110억, ROE는 15-16%, 매년 순이익의 최소 50%를 자본 반환으로 설정했습니다. 이 은행은 12.17%의 기본 자본 비율과 14.83%의 총 자본 비율로 강력한 자본 적정성을 유지하고 있습니다.
Bank Leumi a rapporté de solides résultats financiers pour 2024, avec un revenu net atteignant NIS 9,8 milliards (2,7 milliards de dollars), marquant une augmentation de 40 % par rapport à 2023. La banque a réalisé un Retour sur Fonds Propres (ROE) de 16,9% et a maintenu le meilleur ratio d'efficacité parmi les banques israéliennes à 29,9%.
Les faits saillants incluent une croissance de 8,6 % du portefeuille de prêts et une augmentation de 8,9 % des dépôts publics. La banque a démontré une qualité de portefeuille robuste avec un faible ratio de prêts non performants (0,5 %) et des dettes problématiques (1,4 %). Le retour de capital pour 2024 s'est élevé à environ NIS 4 milliards (1,1 milliard de dollars), comprenant à la fois des dividendes en espèces et des rachats d'actions.
En regardant vers l'avenir, Bank Leumi a annoncé des objectifs financiers stratégiques pour 2025-2026, y compris un revenu net annuel de NIS 9-11 milliards, un ROE de 15-16 % et un retour de capital d'au moins 50 % du revenu net chaque année. La banque maintient une forte adéquation de capital avec un ratio de capital de base de 12,17 % et un ratio de capital total de 14,83 %.
Bank Leumi hat für 2024 starke finanzielle Ergebnisse berichtet, mit einem Nettogewinn von NIS 9,8 Milliarden (2,7 Milliarden US-Dollar), was einem Anstieg von 40% im Vergleich zu 2023 entspricht. Die Bank erreichte eine Eigenkapitalrendite (ROE) von 16,9% und hielt das beste Effizienzverhältnis unter israelischen Banken mit 29,9%.
Zu den wichtigsten Höhepunkten gehören ein Wachstum des Kreditportfolios um 8,6% und ein Anstieg der öffentlichen Einlagen um 8,9%. Die Bank zeigte eine robuste Portfolioqualität mit einer niedrigen NPL-Quote (0,5%) und problematischen Schulden (1,4%). Die Kapitalrendite für 2024 belief sich auf etwa NIS 4 Milliarden (1,1 Milliarden US-Dollar), bestehend aus sowohl Bar-Dividenden als auch Aktienrückkäufen.
Für die Zukunft kündigte Bank Leumi strategische Finanzziele für 2025-2026 an, darunter ein jährlicher Nettogewinn von NIS 9-11 Milliarden, eine ROE von 15-16% und eine Kapitalrendite von mindestens 50% des Nettogewinns jedes Jahr. Die Bank hält eine starke Kapitaladäquanz mit einer Tier-1-Kapitalquote von 12,17% und einer Gesamt-Kapitalquote von 14,83%.
- 40% increase in net income to NIS 9.8 billion ($2.7 billion)
- ROE improved to 16.9% from 13.7% in 2023
- Best-in-class efficiency ratio of 29.9%
- 8.6% growth in loan portfolio with strong quality metrics
- NIS 4 billion ($1.1 billion) capital return to shareholders
- Improved loan loss expense ratio to 0.16% from 0.58%
- Security and economic uncertainty affecting loan loss provisions
- Modest 1.3% growth in retail customer credit
- War-related relief and donations cost NIS 526 million ($144 million)
- Return on equity in Q4 2024:
16.2% - Capital return in Q4 2024 amounts to NIS 980 million (
$269 million NIS 706 million ($194 million 40% of the net income for the quarter. Total capital return for 2024 amounts to approx.NIS 4 billion ($1.1 - Best efficiency ratio among Israeli banks:
29.9% - In 2024, the loan portfolio was up by
8.6% and deposits by the public were up by8.9% - Loan portfolio quality: NPL ratio and rate of troubled debts continue to be low, standing at
0.5% and1.4% respectively - Robust financial indicators: liquidity coverage ratio of
123% , Tier 1 capital ratio of12.17% and total capital ratio of14.83% - Bank Leumi sets financial targets for the first time: For the years 2025-26, the bank is targeting an annual net income of
NIS 9-11 billion ($2.5 $3.0 billion 15% -16% per year; capital return of at least50% of the net income each year; and an annual growth in the loan portfolio of8% -10%
Net income in 2024 amounted to
Return on equity in 2024 was
The efficiency ratio in 2024 was
Capital return in Q4 2024 amounts to
Responsible growth in the loan portfolio in strategic segments: The Bank continues to focus its growth in the credit portfolio in the corporate, commercial and mortgage segments. In 2024, the credit portfolio grew by a total rate of
Loan portfolio quality: Rate of troubled debts and NPL ratio continue to be low and reflect the quality of the loan portfolio, standing at
Deposits by the public increased by
Loan loss expenses in 2024 reflect an expense rate of
High capital adequacy: Common equity tier 1 capital ratio as at December 31, 2024 was
Liquidity coverage ratio as at December 31, 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
The reliefs to eligible customers included, among others: full exemption from mortgage payments, exemption from loan repayments for retail customers and small businesses, designated aid funds, exemption from common current account fees, exemption from interest charges on current account overdraft and more.
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
The updated cost of the reliefs and donations provided during the war is estimated at
Strategic goals: The Bank's Board of Directors approved the Bank's strategy for the next three years, in accordance with the recommendation of the Bank's Senior Management, headed by President & CEO Hanan Friedman. At the same time, a number of strategic financial goals were set - for the first time - for the coming years, which are derived from the Bank's multi-year strategic plan.
Key financial targets for the years 2025-2026:
- Annual net income:
NIS 9-11 billion ($2.5 $3.0 billion - Return on equity:
15% -16% each year - Capital return: at least
50% of the net income each year - Loan portfolio growth:
8% -10% each year
Development of balance sheet items:
Shareholders' equity as at December 31, 2024 totaled
Net credit to the public as at December 31, 2024 totaled
Housing loans (mortgages) as at December 31, 2024 totaled
Credit to retail customers as at December 31, 2024 totaled
Credit to small businesses as at December 31, 2024 totaled
Middle-market credit as at December 31, 2024 totaled
Corporate credit (including real estate) as at December 31, 2024 totaled
Deposits by the public as at December 31, 2024 totaled
Deposits by retail customers as at December 31, 2024 totaled
Deposits by small businesses as at December 31, 2024 totaled
CET1 capital ratio as at December 31, 2024 was
Total capital ratio as at December 31, 2024 was
Leumi Group - Key Financials | ||||
Profit and Profitability (in NIS millions) | ||||
For the three months | Change in | Change in % | ||
2024 | 2023 | |||
Net Interest income | 3,819 | 3,850 | (31) | (0.8) |
Loan loss expenses | 197 | 668 | (471) | (70.5) |
Non-interest income | 1,728 | 1,297 | 431 | 33.2 |
Operating and other expenses | 1,712 | 1,860 | (148) | (8.0) |
Profit before tax | 3,638 | 2,619 | 1,019 | 38.9 |
Provision for tax | 1,294 | 869 | 425 | 48.9 |
Profit after tax | 2,344 | 1,750 | 594 | 33.9 |
The Bank's share in profits of associates | 107 | 76 | 31 | 40.8 |
Net income attributable to the bank's shareholders | 2,451 | 1,826 | 625 | 34.2 |
Return on equity (%) | 16.2 | 13.8 | ||
Earnings per share (NIS) | 1.63 | 1.20 | ||
For the year ended | Change in | Change in % | ||
2024 | 2023 | |||
Net Interest income | 16,509 | 15,997 | 512 | 3.2 |
Loan loss expenses | 713 | 2,383 | (1,670) | (70.1) |
Non-interest income | 6,599 | 5,181 | 1,418 | 27.4 |
Operating and other expenses | 6,904 | 6,894 | 10 | 0.1 |
Profit before tax | 15,491 | 11,901 | 3,590 | 30.2 |
Provision for tax | 5,422 | 3,988 | 1,434 | 36.0 |
Profit after tax | 10,069 | 7,913 | 2,156 | 27.2 |
The Bank's share in profits of associates | (271) | (886) | 615 | 69.4 |
Net income attributable to the bank's shareholders | 9,798 | 7,027 | 2,771 | 39.4 |
Return on equity (%) | 16.9 | 13.7 | ||
Earnings per share (NIS) | 6.46 | 4.58 | ||
Development of Balance Sheet Items (in NIS millions) | |||
December 31 | Change in % | ||
2024 | 2023 | ||
Net loans to the public | 455,519 | 419,486 | 8.6 |
Deposits by the public | 618,301 | 567,824 | 8.9 |
Shareholders' equity | 61,658 | 54,497 | 13.1 |
Total assets | 785,551 | 731,497 | 7.4 |
Principal Financial Ratios (%) | ||
December 31 | ||
2024 | 2023 | |
Net loans to the public to total assets | 58.0 | 57.3 |
Deposits by the public to total assets | 78.7 | 77.6 |
Total equity to risk assets | 14.83 | 14.72 |
Tier 1 capital to risk assets | 12.17 | 11.66 |
Leverage ratio | 6.94 | 6.65 |
Liquidity coverage ratio | 123 | 124 |
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 webcast and conference call for analysts and investors will be held today at 5 PM (
To access the webcast, please register via the link below:
https://veidan.activetrail.biz/BankLeumiQ4-2024
Alternatively, you can dial in to the conference call using one of the numbers below (no passcode required):
US & Canada: 1-866-527-8676
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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FAQ
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