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Bank Leumi earned more than NIS 1.5 billion in the third quarter
Bank Leumi published its quarterly reports for the third quarter of 2021, which show that since the beginning of the year the bank has achieved a net profit of more than NIS 4.5 billion, about a third of them in the last quarter.
The excellent results join the reports of the other banks, which reflect an excellent year for the banking system in Israel
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Tuesday, 16 November 2021, 14:03 Updated: 14:18
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Bank Leumi published the financial statements for the third quarter of 2021. In this quarter, the bank made a profit of more than NIS 1.5 billion (net profit) and calculated from the beginning of 2021, the bank achieved a net profit of more than NIS 4.5 billion.
The reports show that the return on capital in the third quarter of 2021 was 16% and the return from the beginning of 2021 is 15.7%.
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Hanan Friedman, CEO of Bank Leumi. Excellent reports and a significant dividend to shareholders (Photo: Oren Dai)
Following the results, the Bank's Board of Directors approved a dividend distribution of NIS 1.4 billion, which constitutes approximately 30% of the net profit in the first nine months of 2021, in addition to a dividend of NIS 0.6 billion announced in mid-2021. The
reports show that the credit portfolio has grown At a rate of 13.7%, the expense for credit losses reflects an income of 0.31% and that there was a significant increase in income, along with a moderate increase in expenses, ie - a significant improvement in the efficiency ratio compared to last year.
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