{"id":382540,"date":"2020-11-17T03:35:09","date_gmt":"2020-11-17T08:35:09","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=382540"},"modified":"2020-11-17T03:35:09","modified_gmt":"2020-11-17T08:35:09","slug":"leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020\/","title":{"rendered":"Leumi Reports Net Income of NIS 750 Million ($218 Million) and ROE of 8.4% in Q3 2020"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Loan loss expense rate in Q3 2020 was 0.76%, resulting solely from an increase in the collective provision on the back of uncertainty surrounding future implications of the continuing coronavirus crisis<\/h2>\n<h2 class=\"xn-hedline\">Tier 1 Capital Adequacy Ratio was 11.71%<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span \/>\n      <\/p>\n<p>\n        <span class=\"xn-location\">TEL AVIV, Israel<\/span>, <span class=\"xn-chron\">Nov. 17, 2020<\/span> \/PRNewswire\/ &#8212; <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Net income <\/b>in the third quarter of the year was <span class=\"xn-money\">NIS 750 million<\/span>, similarly to the same period last year (<span class=\"xn-money\">NIS 765 million<\/span>).<span><br \/><\/span><br \/>Net income in the first nine months of 2020 reached <span class=\"xn-money\">NIS 1.2 billion<\/span> (<span class=\"xn-money\">$349 million<\/span>), compared to <span class=\"xn-money\">NIS 2.8 billion<\/span> (<span class=\"xn-money\">$814 million<\/span>) in the same period last year. <\/p>\n<p>The decrease in net income in the first nine months resulted mainly from the significant increase in loan loss expenses, all of which arise from an increase in the collective loan loss provision and a decrease in noninterest finance income on the back of the coronavirus crisis.<\/li>\n<li>\n          <b>Return on equity<\/b>\u00a0in the third quarter of 2020 was 8.4%, compared with 8.7% in the same period last year. Return on equity in the first nine months of 2020 was 4.5%, compared with 10.4% in the same period last year (9.6% last year net of the effect of the sale of Leumi Card).<span><br \/><\/span><\/li>\n<li>\n          <b>Loan loss expense<\/b> in the third quarter amounted to <span class=\"xn-money\">NIS 547 million<\/span> compared to a total of <span class=\"xn-money\">NIS 181 million<\/span> in the same period last year, on the back of the collective provision. The loan loss provision in the third quarter of the year was 0.76% (0.26% last year) compared to a rate of approximately 1.2% in the first half of the year.<span><\/p>\n<p><\/span>The loan loss expense in the first nine months of the year totaled <span class=\"xn-money\">NIS 2.3 billion<\/span> compared to a total of <span class=\"xn-money\">NIS 0.5 billion<\/span> in the same period last year, with 88% of the expense in the reporting period arising from an increase in the collective loan loss provision.<b>\u00a0<\/b>\u00a0<\/p>\n<p>The significant increase in the loan loss expense rate stems from the effect of the changes in the macroeconomic environment, on the back of a second substantial surge in <span class=\"xn-location\">Israel<\/span> and the subsequent lockdown, which further deepened the effect of the economic crisis and the uncertainty regarding its effect of the Israeli and global economy. <\/li>\n<li>\n          <b>Noninterest finance income <\/b>in the third quarter of the year totaled <span class=\"xn-money\">NIS 457 million<\/span> compared to <span class=\"xn-money\">NIS 305 million<\/span> last year. Income for the quarter included <span class=\"xn-money\">NIS 92 million<\/span> (before tax) from a revaluation of Visa US equity.<span>\u00a0 <\/p>\n<p><\/span>Noninterest finance income in the first nine months of the year totaled <span class=\"xn-money\">NIS 487 million<\/span> compared to <span class=\"xn-money\">NIS 1,303 million<\/span> in the corresponding period last year (<span class=\"xn-money\">NIS 989 million<\/span> last year net of the sale of Leumi Card). Most of the decrease stems from losses recorded in the item in the first quarter of the year, on the back of decreases in capital markets and the effect of derivatives and exchange rate differentials. In addition to the gain on the sale of Leumi Card, revenues in the corresponding period last year included a total of <span class=\"xn-money\">NIS 123 million<\/span> on the sale of Super-Pharm and Automated Banking Services Ltd. (ABS).\u00a0<br \/>\u00a0 <\/li>\n<li>\n          <b>Operating and other expenses in the third quarter <\/b>totaled approximately <span class=\"xn-money\">NIS 1.7 billion<\/span>, a 9.7% year-on-year decrease. The efficiency ratio was 50.4 percent. The decrease stems from salary expenses and other operating expenses.<\/p>\n<p>Operating and other expenses in the first nine months of the year totaled <span class=\"xn-money\">NIS 5.2 billion<\/span>, a 10.5% year-on-year decrease. The operating efficiency ratio improved, reaching 55%.\u00a0<br \/>\u00a0 <\/li>\n<li>\n          <b>CET1 capital ratio significantly higher than the regulatory requirement <\/b>&#8211; Common Equity Tier 1 capital ratio as at <span class=\"xn-chron\">September 30<\/span> 2020 was 11.71%, and total capital ratio was 15.81%.<\/li>\n<li>\n          <b>Growth in the loan portfolio &#8211; <\/b>the Bank continues to focus its growth efforts on the loan portfolio in the corporate, middle-market and mortgage loan segments. The corporate loan portfolio grew at a rate of 6.4% in the past year; the middle-market portfolio grew by 5.2% and the mortgage portfolio grew by 5.8%.<span><br \/><\/span><\/li>\n<li>\n          <b>Deposits from the public <\/b>were up by 18.7% year-on-year, totaling <span class=\"xn-money\">NIS 427.1 billion<\/span>, compared to <span class=\"xn-money\">NIS 359.9 billion<\/span> in the same period last year.<span><\/span><\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <u>Leumi supports its customers during the coronavirus crisis: <\/u><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Credit to<\/b>\u00a0<b>businesses &#8211; <\/b>from of the outbreak of the crisis until shortly before the publication date of the financial report, Leumi \u00a0(TASE: LUMI) approved <span class=\"xn-money\">NIS 5.7 billion<\/span> in business loans as part of the state-backed loan fund for businesses hurt by the coronavirus crisis and the loan fund for high-risk businesses. Out of this amount, approximately <span class=\"xn-money\">NIS 3.2 billion<\/span> were extended to small businesses. <\/li>\n<li>\n          <b>Moratorium on loans to small businesses<\/b>\u00a0&#8211; as of <span class=\"xn-chron\">September 30<\/span> 2020, Leumi deferred current repayments of loans to small businesses in the amount of <span class=\"xn-money\">NIS 500 million<\/span>, for loans totaling <span class=\"xn-money\">NIS 4.6 billion<\/span>. As of <span class=\"xn-chron\">September 30<\/span> 2020, repayments for approx. 54% of the deferred loans to small businesses resumed. <\/li>\n<li>\n          <b>Loan moratorium <\/b>&#8211; as of <span class=\"xn-chron\">September 30<\/span> 2020, Leumi deferred current mortgage\u00a0loan repayments in the amount of NIS\u00a0374 million, the deferment period of which has yet to end. The total amount of deferred mortgages at Leumi as of <span class=\"xn-chron\">September 30<\/span> 2020 was <span class=\"xn-money\">NIS 9.2 billion<\/span>. In addition, the deferment period on mortgages amounting to <span class=\"xn-money\">NIS 11.7 billion<\/span> has ended. As of shortly before the financial report publication date, only 10% of the mortgage loans are still with the status of deferred loans.<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <u>Development of Balance Sheet Items: <\/u><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Equity attributable to the Bank&#8217;s shareholders <\/b>as at <span class=\"xn-chron\">September 30<\/span> 2020 totaled <span class=\"xn-money\">NIS 37.1 billion<\/span> compared to <span class=\"xn-money\">NIS 35.1 billion<\/span> as at <span class=\"xn-chron\">September 30<\/span> 2019.<b><span><\/span><\/b><\/li>\n<li>\n          <b>Loans to the public, net <\/b>totaled <span class=\"xn-money\">NIS 286.4 billion<\/span> as at <span class=\"xn-chron\">September 30<\/span> 2020, compared with <span class=\"xn-money\">NIS 280.4 billion<\/span> as at <span class=\"xn-chron\">September 30<\/span> 2019, a 2.1% increase. Most of the increase is due to mortgage loans, mid-market businesses and corporations. Loans to the public, net, less loans of institutionals, was up by 2.9%. <\/li>\n<li>\n          <b>Deposits by the public <\/b>totaled <span class=\"xn-money\">NIS 427.1 billion<\/span> as at <span class=\"xn-chron\">September 30<\/span> 2020, compared with <span class=\"xn-money\">NIS 359.9 billion<\/span> as at <span class=\"xn-chron\">September 30<\/span> 2019, a 18.7% increase.<span><\/span><\/li>\n<li>\n          <b>Leverage ratio<\/b>\u00a0as at <span class=\"xn-chron\">September 30<\/span> 2020 was 6.66 percent.<span><\/span><\/li>\n<li>\n          <b>Liquidity coverage ratio <\/b>as at <span class=\"xn-chron\">September 30<\/span> 2020 was 137%, compared to the 100% minimum required by the Banking Supervision Department.<\/li>\n<\/ul>\n<p>\n        <b>Leumi Group &#8211; Principal Data from the Financial Statements <\/b>\n      <\/p>\n<p>Profit and profitability (in NIS millions)<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prnsbts prnrbrs prnvab prnsbbs prntar prnpl6 prnsbls prnpr8\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the nine months ended <\/b><br \/>\n                  <br \/>\n                  <b>September 30<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Change in %<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the year ended December 31 2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest income, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6,506<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,678<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.6)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,841<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loan loss expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,282<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">451<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 +<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">609<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Noninterest income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,980<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,881<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(23.2)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,081<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating and other expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5,221<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,832<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(10.5)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,908<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Profit before tax<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,983<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,276<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(53.6)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,405<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Provision for taxes<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>752<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,444<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(47.9)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,830<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbts prnrbrs prnvab prnsbb1 prnpl6 prnsbls prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Profit after taxes<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,231<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,832<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(56.5)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,575<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bank&#8217;s share in associates&#8217; losses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(5)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(22)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">77.3<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income attributable to non-controlling interests<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>14<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">30<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(53.3)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income attributable to the banking corporation&#8217;s shareholders<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,212<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,780<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(56.4)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,522<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Return on equity (%)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9.8<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Earnings per share (NIS) <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.83<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.87<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.37<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Development of balance sheet items (in NIS millions)<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As at September 30<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loans to the public, net <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>286,374<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">280,374<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">282,478<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Deposits by the public<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>427,115<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">359,896<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">373,644<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Shareholders&#8217; equity<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>37,128<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,144<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,406<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>528,050<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">455,117<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">468,781<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Principal financial ratios (%)<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prnsbts prnrbrs prnvab prnsbb1 prntar prnpl6 prnsbls prnpr6\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As at September 30<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prnsbts prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loans to the public, net, to total assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>54.2<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">61.6<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">60.3<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Deposits by the public to total assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>80.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">79.1<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">79.7<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total equity to risk-weighted assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>15.81<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15.55<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15.67<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total Tier 1 equity to risk-weighted assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>11.71<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11.73<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11.88<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Leverage ratio<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6.66<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7.40<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7.35<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Liquidity coverage ratio<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>137<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">121<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">123<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbt1 prnrbrs prnvab prnsbbs prntar prnpl6 prnsbls prnpr6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <sup>The data in this press release has been converted into US dollars solely for convenience purposes, at the representative exchange rate published by the Bank of <span class=\"xn-location\">Israel<\/span> on <span class=\"xn-chron\">September 30, 2020<\/span>, <span class=\"xn-money\">NIS 3.441<\/span>.<\/sup>\n      <\/p>\n<p>\n        <b>Conference Call Details:<\/b>\n      <\/p>\n<p>A conference call to discuss the results will be held today at\u00a05 PM\u00a0(<span class=\"xn-location\">Israel<\/span>);\u00a03 PM\u00a0(UK);\u00a010:00 AM (ET).<\/p>\n<p>It is recommended to connect to the link at least 10 minutes prior to the beginning of the call. An archived recording will be available on the Leumi website one business day after the call ends.<\/p>\n<p>Conference Call Dial-in Details (no passcode required):<\/p>\n<p>Israel\u00a0 03-9180644<br \/>UK\u00a00-800-917-5108<br \/>US &amp; Canada\u00a01-866-860-9642<br \/>All other locations\u00a0 +972-3-918-0644<\/p>\n<p>The conference call does not replace the need to review the latest periodic\/quarterly reports containing full information, including forward-looking information, as defined in the Israeli Securities Law, and set out in the aforementioned reports.<\/p>\n<p>For more information visit\u00a0<a target=\"_blank\" href=\"http:\/\/www.leumi.co.il\/\" rel=\"nofollow noopener noreferrer\">www.leumi.co.il<\/a>\u00a0or contact\u00a0Daphna Golden, VP, Head of Investor Relations, at\u00a0<a target=\"_blank\" href=\"mailto:Daphna.Golden@bankleumi.co.il\" rel=\"nofollow noopener noreferrer\">Daphna.Golden@bankleumi.co.il<\/a><\/p>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=IO94355&amp;sd=2020-11-17\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020--301174395.html\">http:\/\/www.prnewswire.com\/news-releases\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020&#8211;301174395.html<\/a><\/p>\n<p>SOURCE  Bank Leumi<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=IO94355&amp;Transmission_Id=202011170331PR_NEWS_USPR_____IO94355&amp;DateId=20201117\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Loan loss expense rate in Q3 2020 was 0.76%, resulting solely from an increase in the collective provision on the back of uncertainty surrounding future implications of the continuing coronavirus crisis Tier 1 Capital Adequacy Ratio was 11.71% PR Newswire TEL AVIV, Israel, Nov. 17, 2020 \/PRNewswire\/ &#8212; Net income in the third quarter of the year was NIS 750 million, similarly to the same period last year (NIS 765 million).Net income in the first nine months of 2020 reached NIS 1.2 billion ($349 million), compared to NIS 2.8 billion ($814 million) in the same period last year. The decrease in net income in the first nine months resulted mainly from the significant increase in loan loss expenses, all of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Leumi Reports Net Income of NIS 750 Million ($218 Million) and ROE of 8.4% in Q3 2020&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-382540","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Leumi Reports Net Income of NIS 750 Million ($218 Million) and ROE of 8.4% in Q3 2020 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Leumi Reports Net Income of NIS 750 Million ($218 Million) and ROE of 8.4% in Q3 2020 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Loan loss expense rate in Q3 2020 was 0.76%, resulting solely from an increase in the collective provision on the back of uncertainty surrounding future implications of the continuing coronavirus crisis Tier 1 Capital Adequacy Ratio was 11.71% PR Newswire TEL AVIV, Israel, Nov. 17, 2020 \/PRNewswire\/ &#8212; Net income in the third quarter of the year was NIS 750 million, similarly to the same period last year (NIS 765 million).Net income in the first nine months of 2020 reached NIS 1.2 billion ($349 million), compared to NIS 2.8 billion ($814 million) in the same period last year. The decrease in net income in the first nine months resulted mainly from the significant increase in loan loss expenses, all of &hellip; Continue reading &quot;Leumi Reports Net Income of NIS 750 Million ($218 Million) and ROE of 8.4% in Q3 2020&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-17T08:35:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=IO94355&amp;sd=2020-11-17\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Leumi Reports Net Income of NIS 750 Million ($218 Million) and ROE of 8.4% in Q3 2020\",\"datePublished\":\"2020-11-17T08:35:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020\\\/\"},\"wordCount\":1270,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=IO94355&amp;sd=2020-11-17\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/leumi-reports-net-income-of-nis-750-million-218-million-and-roe-of-8-4-in-q3-2020\\\/\",\"name\":\"Leumi Reports Net Income of NIS 750 Million ($218 Million) and ROE of 8.4% in Q3 2020 - 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