Leumi Q1 2024 - Financial Results
Posted: 17th June 2024 | Share
Key Q1 2024 Messages:
- The Bank will distribute a cash dividend of NIS 835 million ($227 million) and is launching an annual share buyback plan totaling NIS 1 billion ($272 million). Total cash dividend and share buyback plan for Q1 2024 is approx. NIS 1.1 billion ($299 million) – which constitutes 40% of the net income for the quarter
- Leumi continues to present the best efficiency ratio among Israeli banks - 29%
- Deposits by the public in Q1 2024 were up by 11.8% compared with the corresponding period last year
- The loan portfolio was up by 2.2% in Q1 2024
- NPL ratio and rate of troubled debts - which reflect the quality of the Bank’s loan portfolio - continue to be one of the lowest in the banking system, standing at 0.65% and 1.61% respectively
- Robust financial indicators - liquidity coverage ratio of 133%, Tier 1 capital ratio of 11.98% and total capital ratio of 15.02%
- In Q1 2024, the Bank recorded a one-off capital gain (after tax) of NIS 632 million ($172 million) in respect of the sale of the Bank's HQ building