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TEL AVIV, Israel, Feb. 26, 2020 /PRNewswire/ —
Continued Implementation of the Bank’s Strategy:
Development of Balance Sheet Items:
Leumi Chairman of the Board, Dr. Samer Haj Yehia:
“The Leumi Group has completed 2019 with a net assets of NIS 3,522 million, which reflects a 9.8% acknowledgment on equity. In 2019, Leumi connected to administer a allotment of 40% of the net assets to its shareholders, in accession to active a allotment acknowledgment plan accretion NIS 700 million, bringing the absolute acknowledgment bulk to investors – in the anatomy of assets and allotment acknowledgment – to NIS 2.1 billion. Leumi connected to accumulate processes, acquaint avant-garde articles and acclimate its casework to its customers.
“This is an accomplished befalling to accurate – on account of the Bank’s Board of Directors, Senior Management and advisers – our centermost acknowledgment to our investors and to our wide, committed chump base, beyond all citizenry segments in Israel and abroad, for the advancing assurance they abode in our accomplishing and called path.
“These after-effects were accomplished adjoin a accomplishments of challenges and changes in the cyberbanking arrangement – both centralized and external, authoritative and technological, business and consumer-oriented – which crave assurance and adherence. These changes are accepted to abide to booty abode in the future, and we at Leumi are alive agilely to acclimate our business model, while appliance broad-mindedness and activating modes of activity to accomplish our goals.
“I would like to accede the adherence and professionalism of the associates of the Board of Directors, Senior Management and the Group’s advisers in accomplishing the goals and adapting our business archetypal to ensure the connected accession of Leumi as a arch article in the Israeli cyberbanking system, accouterment the best, best innovative, able and agenda cyberbanking casework to our customers.
“I am actual appreciative to be branch Leumi and arch it to new heights. I acknowledge the cogent albatross and absolute advantage the admiral accept placed in my hands, and admit the charge to the Bank’s success as a whole, as able-bodied as to the success of the advisers and their claimed and able realization.”
Leumi President & CEO, Mr. Hanan Friedman:
“The after-effects we present today acutely authenticate that the Bank’s action in the accomplished few years has accurate itself, and that Leumi is prepared, added than ever, to cope with the appalling changes and challenges adverse the cyberbanking industry. The basement we accept congenital in contempo years will acquiesce us to abide implementing our acknowledged action into 2020, while decidedly advocacy the adjustment of our account archetypal to our customers’ characteristics and needs – with an accent on amenable advance – and advancement a high-quality acclaim portfolio. Amenable advance will be achieved, inter alia, by acceptable the use of acute models, which acquiesce us to destine our customers’ needs, beyond all business lines.
“Alongside continuing to advance in the agenda area and leveraging our abstracts capabilities for amount business growth, we will abide to apparatus new abstruse measures, including robotizing processes, for the account of acute ability and added operations.
“Lately, we became the aboriginal Israeli coffer to accession Tier-2 subordinated addendum from adopted investors. The aberrant demands, in accession to the low spreads, reflect the aberrant assurance of investors from about the apple in the Israeli abridgement and in Coffer Leumi’s robustness.”
Leumi Group – Principal Abstracts from the Financial Statements
Profit and Profitability (in NIS millions)
For the year concluded December 31
Net absorption income
Credit accident costs
Operating and added expenses
Profit afore taxes
Provision for taxes
Profit afterwards taxes
The Bank’s allotment in profits of companies included on disinterestedness basis
Net assets attributed to non-controlling interests
Net assets attributed to the bank’s shareholders
Return on disinterestedness (%)
Earnings per allotment (NIS)
Development of Balance Sheet Items (in NIS billions)
As at December 31
Change in %
Net Acclaim to the accessible (a)
Deposits by the accessible (a)
(a) Excluding the balances for Leumi Card, which were classified as held-for-sale assets and liabilities in 2018.
Principal Financial Ratios (%)
As at December 31
Net acclaim to the accessible to absolute assets (a)
Deposits by the accessible to absolute assets (b)
Total disinterestedness to accident assets
Total Tier 1 disinterestedness to accident assets
Liquidity advantage arrangement
Expenses in account of acclaim losses out of net acclaim to the public
Total operating and added costs to absolute assets (efficiency ratio)
a) Excluding the acclaim for Leumi Card (comparative results), which were classified as held-for-sale assets and liabilities in 2018.
b) Excluding deposits by Leumi Card (comparative results), which were classified as held-for-sale assets and liabilities in 2018.
The abstracts in this columnist absolution has been adapted into US dollars alone for accessibility purposes, at the adumbrative exchangerate appear by the Coffer of Israel on December 31, 2019, NIS 3.456.
Conference Alarm Details:
A appointment alarm to altercate the after-effects will be captivated today at 5 PM (Israel); 3 PM (UK); 10:00 AM (ET).
It is recommended to affix to the articulation at atomic 10 account above-mentioned to the alpha of the call. An archived recording will be accessible on the Leumi website one business day afterwards the alarm ends.
Conference Alarm Dial-in Details (no passcode required):
US & Canada
All added locations
The appointment alarm does not alter the charge to analysis the latest periodic/quarterly letters absolute abounding information, including advanced information, as authentic in the Israeli Securities Law, and set out in the above reports.
For added advice visit www.leumi.co.il or contact Daphna Golden, VP, Head of Investor Relations, at Daphna.Golden@bankleumi.co.il.
View aboriginal content:https://www.prnewswire.com/news-releases/leumi-reports-net-income-of-nis-3-522-million-1-019-million-and-roe-of-9-8-for-2019–301011696.html
SOURCE Coffer Leumi
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