Net profit of NIS 1,700 million ($451 million) for Leumi in the first half of 2015

  • Net profit of NIS 518 million ($137 million) in the second quarter of 2015, compared with a profit of NIS 229 million ($61 million) in the corresponding period last year, an increase of 126%.
  • Net return on equity of 13.1% in the first half of 2015.
  • Other comprehensive income (after tax effect) in the first half of 2015 amounted to NIS 2,452 million ($651 million), compared with NIS 904 million ($240 million) in the corresponding period last year. Beyond an increase in the net profit, the increase in other comprehensive income results mainly from an increase in positive adjustments of liabilities in respect of employee benefits.

  • Other comprehensive income in the second quarter of 2015 amounted to NIS 1,632 million ($433 million), compared with NIS 293 million ($78 million) in the corresponding period last year. The increase results mainly from an increase in net profit and an increase in positive adjustments of liabilities in respect of employee benefits, which were partially offset by a decrease in adjustments in respect of securities available for sale.

  • An improvement in the capital adequacy ratio (in Basel lll terms) - the core capital ratio reached 9.52% at 30.6.15, compared with a ratio of 9.09% as of 31.12.14 and 9.11% at the corresponding period last year. The improvement in the capital adequacy ratio mainly results from the increase in other comprehensive income, as mentioned above.

  • Credit loss expenses in the first half of 2015 amounted to NIS 93 million ($25 million), reflecting 0.07% of the bank's credit portfolio.

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