20th May 2008 15:00
RNS Number : 8976U
Leumi International Investments NV
20 May 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]
20 May 2008
To: Israel Securities Authority (www.isa.gov.il)
The Tel Aviv Stock Exchange (www.tase.co.il)
Immediate Report
Nature of the Event: Leumi Card - Financial Statements
Bank Leumi le-Israel B.M. announces that a subsidiary of the Bank, Leumi Card Ltd., today published its financial statements for the first quarter of 2008.
- Net profit amounted to NIS 32 million, an increase of 88% compared with the corresponding period in 2007.
- Total income amounted to NIS 182 million, compared with 153 million in the corresponding period in 2007 - an increase of 19%.
- Credit card transactions amounted to NIS 9.8 billion, an increase of 15% compared with the corresponding period in 2007.
- The net number of valid cards held by customers reached 1.53 million at the end of the first quarter of 2008, an increase of 13% compared with the corresponding period in 2007. The number of active cards of the company reached 1.29 million (85% of valid cards) – an increase of 12% compared with the corresponding period in 2007. Of total cards, some 195,000 were MasterCard cards, with the remaining cards being Visa cards.
- The number of non-Leumi Group affiliated cards amounted to some 322,000 (21% of all cards), an increase of 50% compared with 2007, of which 238,000 cards were revolving credit cards bearing the "Multi" brand.
- The scope of Leumi Card's non-bank credit and discounting activities reached NIS 1.44 billion at the end of the first quarter of 2008, an increase of some 42%. The balance of private credit amounted to NIS 753 million – an increase of 53% compared with the corresponding period in 2007. The balance of commercial credit amounted to NIS 298 million – an increase of 150% compared with the corresponding period in 2007. The scope of discounting services to businesses reached NIS 389 million at the end of the first quarter.
- Profit from net interest income before provisions for doubtful debts amounted to NIS 20 million – an increase of 82% compared with the corresponding period in 2007. Provisions for doubtful debts amounted to NIS 4 million, a decrease of 20% compared with the corresponding period in 2007.
Date and time at which the corporation first became aware of the event or matter:
20 May 2008 at 12:40.
___________________________________________________________________________
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]
This information is provided by RNS
The company news service from the London Stock Exchange
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