Net profit of NIS 936 million ($238.8 million) for Leumi in the first half of 2009
Net profit of of NIS 507 million ($129.4 million) in the second quarter of 2009
Net profit in the first half of 2009 amounted to NIS 936 million ($238.8 million), and NIS 507 million ($129.4 million) in the second quarter.
Net return on equity in the first half of 2009: 10.2% (on an annual basis) and in the second quarter 2009: 11.1% (on an annual basis).
The capital adequacy ratio reached 12.85%, of which Tier I Capital is 8.08%.
Operating and other expenses decreased by 7.3%, to NIS 3,204 million ($817.6 million), primarily as a result of a reduction in salary expenses.
In order to improve the capital adequacy ratio, the Bank issued from the beginning of the year various types of subordinated capital notes in the amount of some NIS 5 billion ($1.3 billion), of which some NIS 2.5 billion ($640 million) was issued in the past month.