{"id":453293,"date":"2021-03-09T04:21:36","date_gmt":"2021-03-09T09:21:36","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=453293"},"modified":"2021-03-09T04:21:36","modified_gmt":"2021-03-09T09:21:36","slug":"leumi-reports-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate-10-7-middle-market-9-8-mortgages-6-9","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/leumi-reports-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate-10-7-middle-market-9-8-mortgages-6-9\/","title":{"rendered":"Leumi Reports Q4 and 2020 Annual Results: Loan Portfolio Grows in 2020: Corporate &#8211; 10.7%, Middle-Market &#8211; 9.8%, Mortgages &#8211; 6.9%"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Substantial Improvement in the Efficiency Ratio<\/h2>\n<h2 class=\"xn-hedline\">The high loan loss expenses, due to the coronavirus crisis, decreased net income to NIS 2.1 billion ($654 Million)<\/h2>\n<h2 class=\"xn-hedline\">ROE in Q4 reached 9.8%<\/h2>\n<h2 class=\"xn-hedline\">Substantial capital surplus: Tier 1 Capital Adequacy Ratio was 11.9%<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">TEL AVIV, Israel<\/span>, <span class=\"xn-chron\">March 9, 2021<\/span> \/PRNewswire\/ &#8212;<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Net income <\/b>in 2020 totaled NIS\u00a02,102 million (<span class=\"xn-money\">$654 million<\/span>), compared to <span class=\"xn-money\">NIS 3,522 million<\/span> (<span class=\"xn-money\">$1,096 million<\/span>) in the same period last year. The decrease in net income stems mainly from the significant increase in loan loss expenses, which arose primarily from an increase in the collective loan loss provision, and from a decrease in non-interest finance income, which last year included gains on the sale of Leumi Card in the amount of <span class=\"xn-money\">NIS 314 million<\/span> (<span class=\"xn-money\">$98 million<\/span>).<span><\/span><\/li>\n<li>\n          <b>Net income <\/b>in the fourth quarter of 2020 was <span class=\"xn-money\">NIS 890 million<\/span> (<span class=\"xn-money\">$277 million<\/span>), compared to <span class=\"xn-money\">NIS 742 million<\/span> (<span class=\"xn-money\">$231 million<\/span>) in the same period last year. <\/li>\n<li>\n          <b>Return on equity<\/b>\u00a0in the fourth quarter of 2020 was 9.8%, compared with 8.7% in the same period last year (despite the 0.37% loan loss expense rate in the fourth quarter of 2020, compared with 0.22% in the same period last year).<br \/>The loan loss expense rate in the fourth quarter of the year was significantly lower than the expense rate in the third quarter of the year &#8211; 0.76%, and 1.2% in the first half of the year. <\/li>\n<li>\n          <b>Return on equity<\/b>\u00a0for 2020 was 5.7%, compared to 9.8% in 2019 (9.2% net of the effect of the sale of Leumi Card last year), mainly due to an increase in the loan loss expense on the back of the coronavirus crisis.<br \/>The loan loss expense in 2020 amounted to <span class=\"xn-money\">NIS 2.6 billion<\/span> (<span class=\"xn-money\">$809 million<\/span>), compared to <span class=\"xn-money\">NIS 609 million<\/span> (<span class=\"xn-money\">$189 million<\/span>) last year. Approximately 74% of the loan loss expense stems from an increase in the collective provision on the back of the coronavirus crisis.\u00a0The loan loss expense rate for 2020 was 0.88%, compared with 0.22% last year.<b>\u00a0 <\/b><\/li>\n<li>\n          <b>Non-interest finance income<\/b>\u00a0in 2020 totaled <span class=\"xn-money\">NIS 1,026 million<\/span> (<span class=\"xn-money\">$319 million<\/span>), compared to <span class=\"xn-money\">NIS 1,686 million<\/span> (<span class=\"xn-money\">$524 million<\/span>) last year.\u00a0Net of the gains from the sale of Leumi Card, non-interest finance income last year was <span class=\"xn-money\">NIS 1,372 million<\/span> (<span class=\"xn-money\">$427 million<\/span>). The change stems mainly from losses recorded in the item in the first quarter of the year on the back of decreases in capital markets, and from the effect of derivatives and exchange rate differentials. <\/li>\n<li>\n          <b>The efficiency ratio<\/b>\u00a0in 2020 improved to 53.8%, compared with 58.1% last year (net of the effect of the sale of Leumi Card). The improvement stems from a decrease in salary expenses and other operating expenses.\u00a0<br \/>Operating and other expenses in 2020 reached <span class=\"xn-money\">NIS 7 billion<\/span> (<span class=\"xn-money\">$2.2 billion<\/span>), a 10.9% decrease compared to the same period last year. Salary and related expenses were down 13.5%, mostly due to the lack of provisions for bonuses in light of the financial results, and a decrease in the number of employees.<br \/>The efficiency ratio in the fourth quarter of 2020 was 50.7%, compared with 61.7% in the same period last year. <\/li>\n<li>\n          <b>Significantly higher CET1 capital ratio than the regulatory requirement <\/b>&#8211; Common Equity Tier 1 capital ratio as at <span class=\"xn-chron\">December 31, 2020<\/span> was 11.9%, and total capital ratio was 15.6%. <\/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 middle-market, corporate, and mortgage segments. The corporate loan portfolio (including real estate) grew at a rate of 10.7% in the past year; the middle-market portfolio grew by 9.8% and the mortgage portfolio grew by 6.9%. <\/li>\n<li>\n          <b>Deposits by the public <\/b>were up by 19.6% year-on-year, totaling <span class=\"xn-money\">NIS 447 billion<\/span> (<span class=\"xn-money\">$139 billion<\/span>), compared to <span class=\"xn-money\">NIS 374 billion<\/span> (<span class=\"xn-money\">$116 billion<\/span>) 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 businesses<\/b>\u00a0&#8211; Since the outbreak of the crisis, until shortly before the publication date of the financial report, Leumi (TASE: LUMI) approved some <span class=\"xn-money\">NIS 6.4 billion<\/span> (<span class=\"xn-money\">$2.0 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. <b>Out of this amount, some <span class=\"xn-money\">NIS 3.8 billion<\/span> (<span class=\"xn-money\">$1.2 billion<\/span>) were extended to small businesses.<\/b><\/li>\n<li>\n          <b>Moratorium on loans to small and micro-businesses<\/b>\u00a0&#8211; as of <span class=\"xn-chron\">January 31, 2021<\/span>, Leumi deferred current repayments of loans extended to small and micro-businesses totaling <span class=\"xn-money\">NIS 1.2 billion<\/span> (<span class=\"xn-money\">$373 million<\/span>), out of which only <span class=\"xn-money\">NIS 170 million<\/span> (<span class=\"xn-money\">$53 million<\/span>) are still under moratorium. <\/li>\n<li>\n          <b>Moratorium on mortgage loans<\/b>\u00a0&#8211; as of <span class=\"xn-chron\">January 31, 2021<\/span>, Leumi deferred current repayments of mortgage loans in the amount of <span class=\"xn-money\">NIS 0.9 billion<\/span> (<span class=\"xn-money\">$280 million<\/span>), out of which only <span class=\"xn-money\">NIS 360 million<\/span> (<span class=\"xn-money\">$112 million<\/span>) are still under moratorium.<\/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>Shareholders&#8217; equity<\/b>\u00a0as at <span class=\"xn-chron\">December 31, 2020<\/span> totaled <span class=\"xn-money\">NIS 37.7 billion<\/span> (<span class=\"xn-money\">$11.7 billion<\/span>), compared to <span class=\"xn-money\">NIS 35.4 billion<\/span> (<span class=\"xn-money\">$11.0 billion<\/span>) as at <span class=\"xn-chron\">December 31, 2019<\/span><span>. <\/span><\/li>\n<li>\n          <b>Gross loans to the public<\/b>\u00a0grew by 5.2%. <b>Net loans to the public<\/b> as at <span class=\"xn-chron\">December 31, 2020<\/span> totaled <span class=\"xn-money\">NIS 295.3 billion<\/span> (<span class=\"xn-money\">$91.9 billion<\/span>), compared with <span class=\"xn-money\">NIS 282.5 billion<\/span> (<span class=\"xn-money\">$87.9 billion<\/span>) as at <span class=\"xn-chron\">December 31, 2019<\/span>, a 4.6% increase. Most of the increase is due to mortgage, middle-market and corporate loans<span>.<\/span><\/li>\n<li>\n          <b>Deposits by the public<\/b>\u00a0as at <span class=\"xn-chron\">December 31, 2020<\/span> totaled <span class=\"xn-money\">NIS 447.0 billion<\/span> (<span class=\"xn-money\">$139.0 billion<\/span>), compared with <span class=\"xn-money\">NIS 373.6 billion<\/span> (<span class=\"xn-money\">$116.2 billion<\/span>) as at <span class=\"xn-chron\">December 31, 2019<\/span>, a 19.6% increase. <\/li>\n<li>\n          <b>Leverage ratio<\/b>\u00a0as at <span class=\"xn-chron\">December 31, 2020<\/span> was 6.6%<span>.<\/span><\/li>\n<li>\n          <b>Liquidity coverage ratio<\/b>\u00a0as at <span class=\"xn-chron\">December 31, 2020<\/span> was 137%, compared to the 100% minimum required by the Bank of <span class=\"xn-location\">Israel<\/span>.<\/li>\n<\/ul>\n<p>\n        <b>Leumi Chairman of the Board, D<\/b><br \/>\n        <b>r.<\/b><br \/>\n        <b>\u00a0Samer Haj Yehia:<\/b>\n      <\/p>\n<p>&#8220;We are currently witnessing significant progress in the worldwide vaccination effort, in which <span class=\"xn-location\">Israel<\/span> has taken the lead. With the hope that Israelis will continue to adhere to safety precautions, we are seeing a light at the end of the tunnel, sensing a waft of optimism, for a potential exit from the coronavirus crisis which has engulfed the world this past year<span>. <\/span><\/p>\n<p>&#8220;Leumi was a pioneer in detecting the emerging crisis, switching to crisis management mode as early as <span class=\"xn-chron\">February 2020<\/span> &#8211; well before the Israeli government imposed any restrictions; we were thus able to dynamically adjust our service model, as well as our operations, management and strategy &#8211; exercising open-mindedness and forward-looking planning &#8211; while taking care of our employees&#8217; and customers&#8217; health<span>.<\/span><\/p>\n<p>&#8220;Leumi encountered the coronavirus crisis with financial robustness in terms of capital adequacy and liquidity ratios, a highly-professional and dedicated staff, and technological advancement. This helped us assume a leading role in resuscitating the Israeli economy; as early as the first months of the crisis, Leumi provided diverse and creative solutions, adjusted to the changing needs of all its customers. The Bank&#8217;s employees demonstrated inspiring engagement, devotion and professionalism in providing service and banking solutions for all customers who were facing a complex and changing reality<span>.<\/span><\/p>\n<p>&#8220;The Leumi Group concludes 2020 with a net income of <span class=\"xn-money\">NIS 2,102 million<\/span>. Most of the income and profit stem from core activities. During 2020, Leumi donated <span class=\"xn-money\">NIS 37 million<\/span> to the community, with more than 2,300 Leumi employees spending some 16,000 hours in volunteer work across a wide range of activities in various communities, including in the areas of healthcare and education, among the future generation and the elderly<span>.<\/span><\/p>\n<p>&#8220;2020<span><\/span>was a year of progress in terms of regional peace, with the signing of the Abraham Accords between <span class=\"xn-location\">Israel<\/span> and the <span class=\"xn-location\">United Arab Emirates<\/span>, the Kingdom of <span class=\"xn-location\">Bahrain<\/span>, the Kingdom of <span class=\"xn-location\">Morocco<\/span> and the Republic of <span class=\"xn-location\">Sudan<\/span>. Leumi is proud of its leadership role in realizing the business relations between the countries and in promoting them through human, financial and business capital, leveraging its 120-year-long experience<span>.<\/span><\/p>\n<p>&#8220;I and the Board of Directors would like to thank the Bank&#8217;s management and employees for their dedicated work throughout a highly challenging year. I would also like to thank our customers and shareholders for their ongoing faith &#8211; in us and in our path.&#8221;<\/p>\n<p>\n        <b>Leumi President &amp; CEO, Mr. <span class=\"xn-person\">Hanan Friedman<\/span>:<\/b>\n      <\/p>\n<p>\n        <span>&#8220;<\/span>In the past year, we have experienced a pandemic which led to a global economic crisis, highlighting the importance of a robust banking system which is able to support the Israeli economy and households in overcoming the crisis. Throughout the year, Leumi went to great lengths to assist its customers &#8211; both private and businesses. This activity is well reflected in our results. We will continue to support our customers even as we come out of the crisis, providing them with tailored financial tools, to allow them to enjoy the rapid growth and consumption spike, which are expected to characterize the emergence from the crisis<span>.<\/span><\/p>\n<p>&#8220;We expect the vaccination drive to lead us, throughout 2021, to gradually emerge from the health crisis, and consequently &#8211; from the economic crisis as well. The numerous challenges we have faced are here to stay for some time, but the insights we have gained from the crisis are loud and clear. Our digital strategy &#8211; which has proven itself during the crisis &#8211; will continue and further expand. We will take our artificial intelligence capabilities and our smart models many steps ahead, in order to ensure Leumi&#8217;s technological leadership well into tomorrow&#8217;s banking era.<\/p>\n<p>&#8220;We will continue to leverage the capabilities we have developed throughout the crisis &#8211; alongside our employees&#8217; commitment to the Bank&#8217;s success &#8211; in order to accelerate growth in segments that are in line with our strategy. We will do so using our digital and innovative capabilities; adopting a service model that is customized to customers&#8217; needs; enhancing the customer service cycle, including in the field of credit underwriting; and by using robotics and additional advanced technological tools.\u00a0We have seen how important these parameters are for our customers&#8217; satisfaction, and to what extent they constitute a major engine for smart, healthy growth<span>.<\/span><\/p>\n<p>&#8220;The era of open banking, in addition to our digital, AI-based underwriting capabilities, as well as the infrastructure for collaborations with fintech, create an opportunity to offer our products &#8211; in an informed and direct manner &#8211; to customers of all banks.\u00a0We believe this has substantial potential going forward.&#8221;<\/p>\n<p>\n        <b>Leumi Group &#8211; Principal Data from the Financial Statements<\/b>\n      <\/p>\n<p>\n        <b>Profit and Profitability (in NIS millions)<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td rowspan=\"3\" nowrap=\"nowrap\" class=\"prnsbts prnrbrs prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prnsbts prnrbrs prnvab prnsbbs prntac prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the year ended December 31<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Change<\/span><br \/>\n                  <\/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\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbts prnsbr1 prnvab prnsbbs prntac prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<td class=\"prnsbts prnsbr1 prnsbbs prntac prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prnsbt1 prnrbrs prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>NIS millions<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net Interest income <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>8,723<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,841<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(118)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(1.33)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loan loss expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,552<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">609<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,943<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">+<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-interest income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4,366<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,081<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(715)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(14.07)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating and other expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7,046<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,908<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(862)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(10.90)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income before taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,491<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,405<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,914)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(35.41)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Provision for taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,356<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,830<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(474)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(25.90)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Profit after taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,135<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,575<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,440)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(40.28)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bank&#8217;s share in associates&#8217; profits <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(13)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">+<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income attributable to non-<br \/>\u00a0controlling interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(20)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(38)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>+<\/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\">Net income attributable to the banking <br \/>\u00a0corporation&#8217;s shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,102<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,522<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,420)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(40.32)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Return on equity (%)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5.7<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9.8<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(4.1)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Earnings per share<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.44<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.37<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.93)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(39.24)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\n        <b>Development of Balance Sheet Items (in NIS millions)<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen13\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As at December 31<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Change in %<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen13\">\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=\"prngen9\">\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=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross loans to the public<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>300,631<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>285,806<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5.2<\/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\">Loan loss provisions<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5,290<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,328<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>59.0<\/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\">Net Loans to the public<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>295,341<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>282,478<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4.6<\/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\">Deposits by the public<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>447,031<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>373,644<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>19.6<\/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\">Shareholders&#8217; equity<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>37,664<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>35,406<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6.4<\/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\">Total assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>556,035<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>468,781<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>18.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\n        <b>Principal Financial Ratios (%)<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prnsbts prnrbrs prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr6\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As at December 31<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\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=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loans to the public to total assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>53.12<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>60.26<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\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=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>80.40<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>79.71<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total equity to risk assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>15.58<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>15.67<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total Tier 1 equity to risk assets <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>11.87<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>11.88<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Leverage ratio <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6.57<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7.35<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Liquidity coverage ratio <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>137<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>123<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>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\">December 31, 2020<\/span>, <span class=\"xn-money\">NIS 3.215<\/span>.<\/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<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prnvab prnpl6 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Israel\u00a0 \u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnvab prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">03-9180609<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">UK\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0-800-917-5108<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">US &amp; Canada\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1-888-642-5032<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">All other locations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">+972-3-918-0609<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/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\u00a0<a target=\"_blank\" href=\"mailto:InvestorRelations@bankleumi.com\" rel=\"nofollow noopener noreferrer\">InvestorRelations@bankleumi.com<\/a><\/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=LN03298&amp;sd=2021-03-09\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/leumi-reports-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate---10-7-middle-market---9-8-mortgages---6-9-301243083.html\">http:\/\/www.prnewswire.com\/news-releases\/leumi-reports-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate&#8212;10-7-middle-market&#8212;9-8-mortgages&#8212;6-9-301243083.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=LN03298&amp;Transmission_Id=202103090418PR_NEWS_USPR_____LN03298&amp;DateId=20210309\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Substantial Improvement in the Efficiency Ratio The high loan loss expenses, due to the coronavirus crisis, decreased net income to NIS 2.1 billion ($654 Million) ROE in Q4 reached 9.8% Substantial capital surplus: Tier 1 Capital Adequacy Ratio was 11.9% PR Newswire TEL AVIV, Israel, March 9, 2021 \/PRNewswire\/ &#8212; Net income in 2020 totaled NIS\u00a02,102 million ($654 million), compared to NIS 3,522 million ($1,096 million) in the same period last year. The decrease in net income stems mainly from the significant increase in loan loss expenses, which arose primarily from an increase in the collective loan loss provision, and from a decrease in non-interest finance income, which last year included gains on the sale of Leumi Card in the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/leumi-reports-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate-10-7-middle-market-9-8-mortgages-6-9\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Leumi Reports Q4 and 2020 Annual Results: Loan Portfolio Grows in 2020: Corporate &#8211; 10.7%, Middle-Market &#8211; 9.8%, Mortgages &#8211; 6.9%&#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-453293","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Leumi Reports Q4 and 2020 Annual Results: Loan Portfolio Grows in 2020: Corporate - 10.7%, Middle-Market - 9.8%, Mortgages - 6.9% - 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-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate-10-7-middle-market-9-8-mortgages-6-9\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Leumi Reports Q4 and 2020 Annual Results: Loan Portfolio Grows in 2020: Corporate - 10.7%, Middle-Market - 9.8%, Mortgages - 6.9% - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Substantial Improvement in the Efficiency Ratio The high loan loss expenses, due to the coronavirus crisis, decreased net income to NIS 2.1 billion ($654 Million) ROE in Q4 reached 9.8% Substantial capital surplus: Tier 1 Capital Adequacy Ratio was 11.9% PR Newswire TEL AVIV, Israel, March 9, 2021 \/PRNewswire\/ &#8212; Net income in 2020 totaled NIS\u00a02,102 million ($654 million), compared to NIS 3,522 million ($1,096 million) in the same period last year. The decrease in net income stems mainly from the significant increase in loan loss expenses, which arose primarily from an increase in the collective loan loss provision, and from a decrease in non-interest finance income, which last year included gains on the sale of Leumi Card in the &hellip; Continue reading &quot;Leumi Reports Q4 and 2020 Annual Results: Loan Portfolio Grows in 2020: Corporate &#8211; 10.7%, Middle-Market &#8211; 9.8%, Mortgages &#8211; 6.9%&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/leumi-reports-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate-10-7-middle-market-9-8-mortgages-6-9\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-09T09:21:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN03298&amp;sd=2021-03-09\" \/>\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=\"9 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-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate-10-7-middle-market-9-8-mortgages-6-9\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/leumi-reports-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate-10-7-middle-market-9-8-mortgages-6-9\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Leumi Reports Q4 and 2020 Annual Results: Loan Portfolio Grows in 2020: Corporate &#8211; 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Net income in 2020 totaled NIS\u00a02,102 million ($654 million), compared to NIS 3,522 million ($1,096 million) in the same period last year. The decrease in net income stems mainly from the significant increase in loan loss expenses, which arose primarily from an increase in the collective loan loss provision, and from a decrease in non-interest finance income, which last year included gains on the sale of Leumi Card in the &hellip; Continue reading \"Leumi Reports Q4 and 2020 Annual Results: Loan Portfolio Grows in 2020: Corporate &#8211; 10.7%, Middle-Market &#8211; 9.8%, Mortgages &#8211; 6.9%\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/leumi-reports-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate-10-7-middle-market-9-8-mortgages-6-9\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-09T09:21:36+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN03298&amp;sd=2021-03-09","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/leumi-reports-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate-10-7-middle-market-9-8-mortgages-6-9\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/leumi-reports-q4-and-2020-annual-results-loan-portfolio-grows-in-2020-corporate-10-7-middle-market-9-8-mortgages-6-9\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Leumi Reports Q4 and 2020 Annual Results: Loan Portfolio Grows in 2020: Corporate &#8211; 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