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Financial Statements Q3 2008

November 27th, 2008

Net profit of NIS 1.275 billion ($372.7 million) for Leumi in the first nine months of 2008.


  • In accordance with the Immediate Report regarding the expected significant negative impact on business results during the third quarter, the Bank recorded a loss of NIS 84 million ($24.6 million) during the third quarter of 2008.


  • The primary influences on the Bank’s results were the situation in global markets, the collapse of Lehman Brothers and Washington Mutual, and the worsening state of the Israeli economy.


  • The Bank’s shareholders’ equity amounted to NIS 19.6 billion ($5.7 billion) – unchanged from year-end 2007.


  • The Bank’s capital adequacy continues to be extremely high:  12.08%.


  • An increase of 4.5% in credit granted to the public compared with year-end 2007 to NIS 207.5 billion ($60.7 billion).