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Financial Statements

Financial Statements - Annual Report 2007

November 28th, 2007

 

Leumi Presents the Highest Net Profit in the Israeli Banking System:

NIS 3.36 billion ($873 million)

Net Operating Profit of NIS 2.98 billion ($776 million)

 

  • Net Return on Equity in 2007 - 17.4%
  • Net Return on Operating Profit in 2007 - 15.4%
  • Net Profit in the fourth quarter of 2007 - NIS 517 million ($134 million)
  • The Bank’s capital adequacy remains high - 11.52%
  • The small amount of $7.2 million was recorded in the Bank’s profit and loss statement for 2007 in respect of the asset-backed securities portfolio.
  • The Bank will distribute an additional dividend in the amount of NIS 270 million ($70 million) on account of the profits from the fourth quarter of 2007, and in a total amount of some NIS 1.7 billion ($438 million) for the profits from the entire year (subject to the approval of the Annual General Meeting)

 

 

 The financial statements disclose that the net operating profit of the Leumi Group in 2007 amounted to NIS 2,984 million ($776 million), compared with NIS 1,454 million ($378 million) in 2006, an increase of 105.2%. The return on net operating profit in 2007 was 15.4%, compared with 8.3% in 2006.

 

  The net profit of the Leumi Group in 2007 amounted to NIS 3,357 million ($873 million), compared with NIS 3,534 million ($919 million) in 2006, a decrease of 5.0%. It should be recalled that Leumi’s net profit in 2006 included extraordinary gains in the amount of some NIS 2.1 billion ($546 million) from the sale of Leumi’s non-banking holdings and capital market companies, as compared with extraordinary gains of only NIS 373 million ($97 million) from the sale of assets in 2007.

 

 The net profit in 2007 reflects a return on equity of 17.4%, compared with 20.1% in 2006.

 

 Net operating profit in the fourth quarter of 2007 amounted to NIS 512 million ($133 million), compared with NIS 391 million ($102 million) in the fourth quarter of 2006, an increase of 30.9%. Net profit in the fourth quarter of 2007 amounted to NIS 517 million, ($134 million), compared with NIS 1,074 million ($279 million) in the corresponding quarter of 2006, a decrease of 51.9%.