MIZRAHI TEFAHOT BANK LTD. Q2/23
Disclaimer
• This document has been prepared by Mizrahi-Tefahot Bank Ltd (UMTB) solely for use at the company's presentation. The information contained in this document constitutes information from the bank's 2023 quarterly reports and/ or immediate reports, as well as the periodic, quarterly and annual reports and/or immediate reports published by the bank in previous years.
- Accordingly, the information contained in this document is only partial, is not exhaustive and does not include the full details regarding the bank and its operations or regarding the risk factors involved in its activity and certainly does not replace the information included in the periodic, quarterly, annual or immediate reports published by the bank. In order to receive the full picture regarding the bank's 2023 quarterly reports, the aforesaid reports should be perused fully, as published to the public.
- None of the company, or any of their employees or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document.
- The bank's results in practice may be significantly different from those included in the forecasting information, as a result of a large number of factors, including, inter alia, changes in the domestic and global equity markets, macro-economic changes, geo-political changes, legislation and regulation changes, and other changes that are not under the bank's control, which may lead to the estimations not realizing and/or to changes in the business plans.
- The forecasting information may change subject to risks and uncertainty, due to being based on the management's estimations regarding future events, which include, inter alia: global and local economic development forecasts, particularly regarding the economic situation in the market, including the effect of macro-economic and geo-political conditions; expectations for changes and developments in the currency and equity markets; forecasts related to other various factors affecting exposure to financial risks; forecasts with respect to changes to borrowers' financial strength, public preferences, changes in legislation and the provisions of regulators, competitors' behavior, the status of the bank's perception, technological developments and human resources developments.
- This document does not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation of any kind regarding any security or any interest in security.
1
Q2/23
Macro environment
Unemployment rate)1()2( | GDP growth)1( |
3.4 3.4
3.1 2.9 3.1 3.0 3.0 3.1 3.1
4.1 | 8.6% | ||||||||||||||||||||||||||||||||||||||||||||||||||
3.5 | 3.5 | 3.7 | 3.5 | 3.5 | 3.3 | 3.3 | 3.7 | ||||||||||||||||||||||||||||||||||||||||||||
6.5% | |||||||||||||||||||||||||||||||||||||||||||||||||||
3.2 | 3.1 | 4.1% | 4.2% | ||||||||||||||||||||||||||||||||||||||||||||||||
3.0% | 3.0% | ||||||||||||||||||||||||||||||||||||||||||||||||||
-1.9%
2018 | 2019 | 2020 | 2021 | 2022 | 2023F | 2024F |
Bank of Israel interest rate and inflation | Known CPI - monthly change |
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0% -1.0%
1 year OTC inflation expectation 2.83% )3(
4.75%
0.0%
1) 2023E-2024F according to BoI forecast from July 2023
2) | Unemployment Rate in the general population, ages 25-64 excluding seasonality. | 2 |
3) | As of August 8, 2023 |
Q2/23
Overview of Mizrahi-Tefahot
Leading Israeli Bank
NIS 433bn
Total Assets1
NIS 6.3bn
Net Interest Revenue2
NIS 34.5bn
Market Cap3
NIS 317bn
Net Loans to the public1
NIS 7.8bn
Total Revenue2
>7,500
Employees4
NIS 345bn
Deposits from the public1
NIS 2.8bn
Net Profit2
204
Branches5
Significant Market Shares5 | Mizrahi-Tefahot | |||||||||||||||
Other | ||||||||||||||||
36.1% | 32.2% | 21.1% | 18.3% | 18.6% | ||||||||||||
#1 | #1 | |||||||||||||||
Mortgages | Retail Segment | 6 | Loans | Assets | Deposits | |||||||||||
(1) As of June 30, 2023. (2) For H1 2023. (3) Tel Aviv Stock Exchange (as of August 7, 2023) | ||||||||||||||||
(4) Data through December 31, 2022 include 373 former Union Bank employees whose employment was terminated in early 2023. | 3 | |||||||||||||||
(5) As of December 31, 2022. (6) Market share in credit to Households and Private Banking segments (supervisory operating segments). | ||||||||||||||||
Q2/23
Financial Highlights
Balance Sheet
Growth
Total Assets (NISbn) | Net Loans to the Public (NISbn) |
3.8% | 433 | 298 | 6.3% | 317 | |
417 | |||||
Jun-22 | Jun-23 | Jun-22 | Jun-23 |
Deposits from the Public (NISbn)
345
328 | 5.3% |
Jun-22 | Jun-23 |
Profitability
Cost/Income Ratio
44.1% | 1 | 45.2% | 1 |
37.8% | |||
1-6/22 | 2022 | 1-6/23 |
Return on Equity
20.6% 1 | 20.1% 1 | 22.2% |
1-6/22 | 2022 | 1-6/23 |
Asset Quality,
Liquidity and
Capitalisation
NPL Ratio2
0.9%0.9%
Jun-22Jun-23
Loan-Deposit Ratio
91.8% | |
91.0% | |
Jun-22 | Jun-23 |
CET1 Ratio
10.23% | |
10.00% | |
Jun-22 | Jun-23 |
- Excluding effect of capital gain, net from sale of assets, ROE in the first half and full year 2022 is 18.0% and 19.0% respectively, and the cost/income ratio in the first half and full year 2022 is
46.8% and 46.4% respectively. | 4 |
(2) NPL Ratio is calculated as Impaired Credit not Accruing Interest Income, divided by Gross Loans to the Public. |
| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Mizrahi Tefahot Bank Ltd. published this content on 15 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2023 06:31:01 UTC.
