27th Feb 2008 14:03
Leumi International Investments NV27 February 2008 BANK LEUMI LE-ISRAEL B.M. - (GUARANTOR - GUARANTEED EURO MEDIUM TERM NOTE PROGRAMME OF LEUMI INTERNATIONAL INVESTMENTS N.V.) Summary Translation of Immediate Report Bank Leumi le-Israel B.M. Registration No. 520018078 Securities of the Corporation are listed on The Tel Aviv Stock Exchange Abbreviated Name: Leumi Leumi House, 34 Yehuda Halevi Street, Tel Aviv 65546 Phone: + 972 3 5148111, + 972 3 5149419; Facsimile: + 972 3 5149732 Electronic Mail: [email protected] 27 February 2008 To: Israel Securities Authority (www.isa.gov.il) The Tel Aviv Stock Exchange (www.tase.co.il) Immediate Report Nature of the Event: Arab Israel Bank - Financial Statements Bank Leumi le-Israel B.M. (the "Bank") announces that the Bank's subsidiary,Arab Israel Bank Ltd. ("Arab Israel Bank") has published its financialstatements for 2007. Net profit of Arab Israel Bank amounted to NIS 88.5 million in the reportedperiod, compared with net profit of NIS 61.6 million in the corresponding periodof 2006 - an increase of 43.7%. Net return on shareholders' equity for 2007 amounted to 23.4%, compared with17.3% in 2006. Net profit amounted to NIS 19.1 million in the fourth quarter of 2007, comparedwith net profit of NIS 13.1 million in the corresponding period of 2006 - anincrease of 45.8%. The increase in profit in 2007, as compared with 2006, was influenced, interalia, by the continuing expansion of the consumer base, by a decrease in specialsalary expenses which arose from benefits to employees related to theprivatization of the parent company in 2006, and a decrease in provisions forpension following actuarial changes and an increase in the profits of thereserves. Net interest income before provision for doubtful debts amounted to NIS 216.2million in 2007, compared with NIS 198.8 million in 2006 - an increase of 8.8%. Provision for doubtful debts amounted to NIS 12.3 million in 2007, compared withNIS 9.4 million in 2006 - an increase of 30.9%. Operating and other income amounted to NIS 96.6 million in 2007, compared withNIS 81.1 million in 2006 - an increase of 19.1%. Total income less the provision for doubtful debts amounted to NIS 300.5 millionin 2007, compared with NIS 270.5 million in 2006 - an increase of 11.1%. Total operating and other expenses amounted to NIS 160.4 million in 2007,compared with NIS 158.0 million in 2006 - a decrease of 1.5%. Total assets as at 31 December 2007 amounted to NIS 4,216.3 million, comparedwith NIS 3,926.9 million as at 31 December 2006 - an increase of 7.4%. Date and time at which the corporation first became aware of the event ormatter: 26 February 2008 at 13:30.___________________________________________________________________________Name of Electronic Reporter: Jennifer Janes, Position: Executive Vice President,Group SecretaryPOB 2 Tel Aviv 61000, Phone: + 972 3 5149419, Facsimile: + 972 3 5149732,Electronic Mail: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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