Net profit of NIS 459 million ($122 million) for Leumi in the first quarter of 2016
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Net profit of NIS 459 million ($122 million) in the first quarter of 2016, compared with a profit of NIS 1,182 million ($314 million) in the corresponding period last year, which then included one-time profits resulting from the sale of Israel Corp. shares )net profit of NIS 532 million or $141 million) and Mobileye shares )net profit of NIS 212 million or $56 million).
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Following a change in the corporate tax rate as of January 2016, first quarter 2016 results include a net expense of NIS 122 million ($32 million).
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Credit loss income in the first quarter of 2016 amounted to NIS 123 million ($33 million), reflecting 0.19% of the bank's credit portfolio. This is compared with credit loss expenses amounting to NIS 81 million ($22 million) in the corresponding period last year, which then reflected 0.13% of the bank's credit portfolio.
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Net return on equity in the first quarter of 2016 (on an annual basis) reached 6.6%.
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The core capital ratio (Tier I) reached 9.96%, compared with a ratio of 9.58% as of 31.12.15.
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The capital adequacy ratio reached 14.28%, compared with a ratio of 13.74% as of 31.12.15.
