Q2 2023
Financial results presentation
Disclaimer
This document and the information contained herein -
- Has been prepared by Bank Leumi le-Israel B.M. (the "Bank") solely for the purpose of presenting the Bank's business;
- Is provided solely for your information and may not to be copied, distributed or forwarded, directly or indirectly, in any form to any other person, nor published, wholly or partially, for any purpose;
- Does not purport to be all-inclusive or to contain all the information that may be relevant in making any decision concerning an investment in the securities of the Bank;
- Some of the information contained in this document and/or discussed throughout the conference call that does not refer to historical facts, constitutes forward-looking information with respect to the Bank's business, financial condition and results of its operations, which is based, inter alia, on forecasts of the future regarding various matters, which include but are not limited to changing economic conditions in Israel and abroad, especially in the foreign exchange and capital markets, legislation, directives of regulatory bodies, the behavior of competitors, product demand, pricing, market acceptance, risks in product and technological developments, personnel issues, the effect of the Bank's accounting policies as well as certain other risk factors which are detailed from time to time in the Bank's filings with the securities authority, etc. and is subject to risks, uncertainties and changes in circumstances, that could cause actual results to differ materially from those included herein. For more information on the meaning of forward looking information, we would refer you to the Bank's most recent published Consolidated Financial Statements;
- Does not constitute an offer or invitation to purchase or subscribe for any securities, nor does it constitute advice.
The conference call does not replace the need to review the latest periodic / quarterly reports in which full information is contained, including forward looking information, as defined in the Israeli Securities Law, and set out in the afore mentioned reports.
2
Strong underlying performance
Key financial metrics
Net Income
ROE
Cost Income Ratio
Credit Loss Expenses
Net Loan Growth
Core Deposit Growth
Q2 2023
2,453
19.4%
29.5%
0.31%
Q-o-Q
1.4%
Q-o-Q
2.2%
H1 2023 | FY 2022 |
3,434 | 7,709 |
13.6% | 17.0% |
31.0% | 37.2% |
0.36% | 0.13% |
YTD | Y-o-Y |
6.4% | 18.4% |
YTD | Y-o-Y |
5.4% | 9.5% |
3 (NIS Millions)
FY 2022 excludes Leumi USA; Core Deposits = Deposits from Private individuals.
In Q1 2023 the bank recorded a NIS 1.1bn impairment of its stake in Valley National Bank.
H1 2023 vs. H1 2022 - Breakdown of Income and Expenses
↗︎Finance Income | 8,720 | |||||
34.0% | ||||||
6,506 | 8,212 | |||||
5,824 | ||||||
41.0% | ||||||
H1 2022 | ||||||
CPI 3.1% | 682 | 508 | ||||
NIM 2.1% | ||||||
H1 2022 | H1 2023 | |||||
Net Interest Income | Non-interest Finance Income |
H1 2023
CPI 2.5%
NIM 2.7%
↗︎ Operating and Other Expenses
1.1%
3,2773,312
1,8731,760
1,404 | 1,552 |
H1 2022 | H1 2023 |
Total Salary & Related Expenses | Maintenance & Depreciation Expenses and Others |
↗︎Fees and Commissions
4.8% | |
1,754 | 1,838 |
H1 2022 | H2 2023 |
↗︎ PPNR - Pre Provisions Net Revenue
48.1% | 7,383 | |
4,985 | ||
H1 2022 | H1 2023 |
4 (NIS Millions)
H1 2022 is excluding Leumi USA.
Q2 2023 vs. Q2 2022 - Breakdown of Income and Expenses
↗︎Finance Income | 4,767 | ||||||
25.0% | |||||||
3,813 | 4,284 | ||||||
3,125 | |||||||
37.1% | |||||||
Q2 2022 | |||||||
CPI 1.9% | 688 | 483 | |||||
NIM 2.2% | |||||||
Q2 2022 | Q2 2023 | ||||||
Net Interest Income | Non-interest Finance Income |
Q2 2023 CPI 1.4% NIM 2.8%
↗︎ Operating and Other Expenses
2.6%
1,6411,683
961915
680 | 768 | |||
Q2 2022 | Q2 2023 | |||
Total Salary & Related Expenses | Maintenance & Depreciation Expenses and Others |
↗︎Fees and Commissions | ↗︎ PPNR - Pre Provisions Net Revenue |
32.0% | |||
4,013 | |||
2.1% | 3,041 | ||
872 | 890 | ||
Q2 2022 | Q2 2023 | Q2 2022 | Q2 2023 |
5 (NIS Millions)
Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Bank Leumi le-Israel BM published this content on 15 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2023 10:39:17 UTC.