27th Nov 2007 08:58
Leumi International Investments NV27 November 2007 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] 25 November 2007 To: Israel Securities Authority (www.isa.gov.il) The Tel Aviv Stock Exchange (www.tase.co.il) Immediate Report regarding an Event or Matter falling outside the Ordinary Course of Business of the Corporation Pursuant to Regulation 36(a) of the Securities (Periodic and Immediate Reports) Regulations, 1970 Nature of the Event: Arab Israel Bank - Financial Statements Bank Leumi le-Israel B.M. (the "Bank") announces that a subsidiary of the Bank,Arab Israel Bank Ltd. ("Arab Israel Bank") today published its unauditedfinancial statements for the first nine months of 2007. Net profit of Arab Israel Bank amounted to NIS 69.4 million in the first ninemonths of 2007, compared with net profit of NIS 48.5 million in thecorresponding period of 2006 - an increase of 43.1%. Net return on shareholders' equity for the reported period amounted to 26.0% onan annual basis, compared with 19.0% in the corresponding period in 2006. Net profit amounted to NIS 22.3 million in the third quarter of 2007, comparedwith net profit of NIS 16.2 million in the corresponding period of 2006 - anincrease of 37.7%. The increase in profit in the first nine months of 2007, as compared with 2006,was influenced, inter alia, by a decrease in special salary expenses which arosefrom benefits to employees due to the privatization of the parent company in2006, and a decrease in provisions for pension following actuarial changes andan increase in profits of the reserves. Net interest income before provision for doubtful debts amounted to NIS 161.0million in the reported period, compared with NIS 148.7 million in thecorresponding period in 2006 - an increase of 8.3%. Provision for doubtful debts amounted to NIS 8.3 million in the reported period,compared with NIS 5.8 million in the corresponding period in 2006 - an increaseof 43.1%. Operating and other income amounted to NIS 70.5 million in the reported period,compared with NIS 59.3 million in the corresponding period in 2006 - an increaseof 18.9%. Total income of Arab Israel Bank (less the provision for doubtful debts)amounted to NIS 223.2 million in the reported period, compared with NIS 202.2million in the corresponding period in 2006 - an increase of 10.4%. Total expenses of Arab Israel Bank amounted to NIS 115.2 million in the reportedperiod, compared with NIS 117.7 million in the corresponding period in 2006 - adecrease of 2.1%. Date and time at which the corporation first became aware of the event ormatter: 25 November 2007 at 9:30.___________________________________________________________________________ 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] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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