Net profit of NIS 555 million ($157 million) for Leumi in the third quarter of 2013 - an increase of 15.9% compared with the corresponding period last year
Net profit in the first nine months of 2013 was NIS 1.6 billion ($452 million)-an increase of 34.4% compared with the corresponding period last year
Net return on equity in the first nine months of 2013 was 8.5% (on an annual basis), compared with 6.6% in the first nine months of 2012.
Credit loss expenses in the first nine months of 2013 amounted to NIS 113 million ($32 million), representing a provision of only 0.06% of the Bank's net credit portfolio and a decrease of NIS 737 million ($208 million) compared with the corresponding period last year.
The share of credit to households and small businesses in the credit portfolio increased during this period by 3.9%, compared with December 31, 2012.
The capital adequacy ratio at the end of the third quarter of 2013 reached 14.85%, of which the core capital ratio was 9.28%.
Total assets under management of the Group in the first nine months of 2013 amounted to NIS 1,039 billion ($294 billion) - an increase of 9.4% compared with total managed assets of NIS 950 billion ($269 billion) in the corresponding period last year.
Further to the provision of NIS 340 million ($96 million) which the Bank made in the 2012 financial statements to cover the expense that might be incurred by the Group due to the investigations that are being conducted by the US authorities concerning the activities of the Group between 2002-2010 with customers who are US tax payers, and in light of further data received by the Bank pursuant to an internal examination conducted by external experts, the Bank increased the above mentioned provision by NIS 190 million ($54 million) to a total of NIS 530 million ($150 million). This provision also includes expected expenses for advisors and external service providers connected with the investigation.