26th Feb 2009 11:52
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]
26 February 2009
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 financial statements for 2008.
Net profit of Arab Israel Bank amounted to NIS 73.5 million in the reported period, compared with net profit of NIS 88.5 million in the corresponding period of 2007 - a decrease of 16.9%.
Net return on shareholders' equity for 2008 amounted to 19.5% compared with 23.4% in 2007.
Total income amounted to NIS 336.6 in 2008, compared with total income of NIS 312.8 in the corresponding period of 2007, an increase of 7.6%.
Net interest income before provision for doubtful debts amounted to NIS 235 million compared with NIS 216.2 million in 2007 - an increase of 8.7%.
Operating and other income amounted to 101.6 million in 2008, compared with NIS 96.6 million in 2007 - an increase of 5.2%.
Provision for doubtful debts amounted to NIS 26.5 million in 2008, compared with NIS 12.3 million in 2007 - an increase of 115.4%.
Total income less provisions for doubtful debts amounted to NIS 310.1 million in 2008, compared with NIS 300.5 million in 2007 - an increase of 3.2%.
Total operating and other expenses amounted to NIS 188.2 million in 2008, compared with NIS 160.4 million in 2007 - an increase of 17.3%.
Total assets as at 31 December 2008 amounted to NIS 4,771.8 million, compared with NIS 4,216.3 million as at 31 December 2007 - an increase of 13.2%.
Date and time at which the corporation first became aware of the event or matter:
26 February 2009 at 12:30.
___________________________________________________________________________
Name of Electronic Reporter: Jennifer Janes, Position: Executive Vice President, Group Secretary
POB 2 Tel Aviv 61000, Phone: + 972 3 5149419, Facsimile: + 972 3 5149732,
Electronic Mail: [email protected]
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