ISRAEL DISCOUNT BANK LTD Registration no.: 520007030
FAO: | Israel Securities Authority | FAO: | The Tel Aviv Stock Exchange Ltd. | T121 (Public) | Magna transmission date: August 8, 2017 |
www.isa.gov.il | www.tase.co.il | Reference No.: 2017-01-068152 |
IMMEDIATE REPORT
Explanation: This form is not to be used if a form exists that is suitable for the reported event
Nature of the event: Immediate Report
Reference numbers of previous reports relating to this topic:
We hereby announce that the subsidiary of the Bank, Israel Credit Cards Ltd., has approved its financial statements as at June 30, 2017.
Presented below are: the condensed consolidated interim Statement of Profit and Loss, condensed consolidated interim Statement of Other Comprehensive Income, condensed consolidated interim Balance Sheet, condensed interim Statement of Changes in Equity and condensed consolidated interim Statement of Cash Flows taken from the aforesaid financial statements.
The Company is not a shell company as defined in the TASE Code
The date when the Corporation first learned of the event: August 7, 2017 at 18:00
The Report has been signed on behalf of the Corporation, in accordance with Regulation 5 of the Securities Regulations (Periodic and Immediate Reports), 5730-1970, by Yuval Gavish, Senior Executive Vice President and Head of Retail Banking Division, and by Joseph Beressi, Senior Executive Vice President and Chief Accountant.
Reference numbers of previous documents relating to this topic (their mention does not constitute their inclusion by way of reference): N/A
The securities of the Corporation are listed for trade on the Tel Aviv Stock Exchange | Date of updating structure of form: 07/08/2017 |
Abbreviated name: Discount | |
Address: 23 Yehuda Halevi St., Tel Aviv 6513601, IsraelTel: 972-3-5145582; 972-3-5145544;Fax: 972-3-5171674 | |
Email:michal.sd@discountbank.co.il | |
Prior names of the reporting entity: | |
Name of person making electronic report: Beressi, JosephPosition: Senior Executive Vice President and Chief AccountantName of Employing Company: | |
Address: 23 Yehuda Halevi St., Tel Aviv 65136, IsraelTel: +972-3-5145544;Fax: +972-3-5144111Email:Yossi.beressi@discountbank.co.il | |
Income Credit card transactions | 263 | **244 | 515 | 674 | 984 |
Net interest income | 108 | 00 | 209 | 270 | 362 |
Noninterest financing income | *- | **263 | 8 | **268 | 276 |
Total income | 371 | 597 | 732 | 914 | 1,622 |
Expenses | |||||
For credit losses | 31 | 21 | 58 | 21 | 74 |
Operating | 122 | 242 | 241 | 140 | 544 |
Selling and marketing | 73 | 46 | 147 | 216 | 274 |
Administrative and general | 16 | 10 | 32 | 23 | 69 |
Payments to banks | 57 | 34 | 111 | 201 | 219 |
Total expenses | 299 | 321 | 589 | 568 | 1,180 |
Profit before taxes | 72 | 174 | 143 | 346 | 442 |
Provision for taxes on profit | 17 | 16 | 38 | **108 | 150 |
Profit after taxes | 55 | 201 | 105 | 121 | 292 |
Company's equity in profits of | |||||
associate, net of tax effect | *- | *- | *- | *- | *- |
Net profit | 55 | 192 | 105 | 238 | 292 |
Basic and diluted earnings per | |||||
ordinary share in NIS: | |||||
Net earnings attributable to equity holders of the Company | 50.1 | 174.9 | 95.6 | 216.9 | 266.0 |
Three months ended | Six months ended | Year ended | ||
June 30 | June 30 | June 30 | June 30 | December 31 |
1027 | 1026 | 1027 | 1026 | 1026 |
(Unaudited) | (Unaudited) | (Audited) | ||
In NIS millions | ||||
* Represents an amount of less than NIS 1 million.
** Reclassified.
Yuval Gavish Chairman of the Board of Directors | Doron Sapir Chief Executive Officer | Shaul Mizrahi Vice President and Chief Accountant |
Date of approval of the financial statements: August 7, 2017.
Net profit attributable to equity holders of the Company | 55 | 192 | 105 | 238 | 292 |
Other comprehensive income (loss) before | |||||
taxes | |||||
Adjustments to liabilities in respect to | |||||
employee rights** | )*- ( | )*- ( | (1) | )3( | (17) |
Other comprehensive income (loss) before taxes | (*-) | (*-) | (1) | (5) | (17) |
Related tax effect | *- | *- | *- | 2 | 4 |
Other comprehensive income (loss) attributable to equity holders of the Company, after taxes | (*-) | (*-) | (*-) | (4) | (13) |
Comprehensive income attributable to equity holders of the Company, after taxes | 55 | 192 | 104 | 234 | 279 |
Three months ended | Six months ended | Year ended | ||
June 30 | June 30 | June 30 | June 30 | December 31 |
1027 | 1026 | 1027 | 1026 | 1026 |
(Unaudited) | (Unaudited) | (Audited) | ||
In NIS millions | ||||
* Represents an amount of less than NIS 1 million.
** Mainly reflects adjustments in respect to year-end actuarial estimates of defined benefit pension plans and the writedown of amounts previously recorded in other comprehensive income.
June 30 | June 30 | December 31 |
1027 | 1022 | 1022 |
(Unaudited | (Audited) | |
In NIS millions | ||
Assets: Cash and bank deposits | 79 | 48 | 49 |
Accounts receivable on credit card transactions | 12,748 | 11,335 | 12,119 |
Provision for credit losses | (174) | (141) | (155) |
Accounts receivable on credit card transactions, net | 12,574 | 11,194 | 11,964 |
Securities | 53 | 53 | 53 |
Investments in associate | 11 | 11 | 11 |
Buildings and equipment | 240 | 211 | 226 |
Other assets | 125 | 106 | 113 |
Total assets | 13,082 | 11,623 | 12,416 |
Liabilities and equity: | |||
Credit from banks | 3,939 | 2,933 | 3,614 |
Accounts payable on credit card transactions | 7,124 | 6,603 | 6,870 |
Subordinated notes | 110 | 116 | 110 |
Other liabilities | 331 | 512 | 318 |
Total liabilities | 11,504 | 10,164 | 10,912 |
Equity attributable to equity holders of the Company | 1,578 | 1,459 | 1,504 |
Total equity | 1,578 | 1,459 | 1,504 |
Total liabilities and equity | 13,082 | 11,623 | 12,416 |
Israel Discount Bank Limited published this content on 08 August 2017 and is solely responsible for the information contained herein.
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