Welcome to our dedicated page for Bank Leumi news (Ticker: BLMIF), a resource for investors and traders seeking the latest updates and insights on Bank Leumi stock.
Bank Leumi (BLMIF), a cornerstone of Israel's financial sector, provides comprehensive banking services through retail networks, corporate solutions, and innovative digital platforms. This page serves as your centralized source for verified news and official announcements from one of Israel's most established financial institutions.
Access timely updates on earnings reports, strategic partnerships, and regulatory developments that shape the bank's operations. Investors will find essential information on dividend announcements, credit portfolio updates, and leadership changes, while analysts can track long-term performance metrics and market positioning strategies.
Our curated news collection covers key areas including digital banking innovations, corporate lending initiatives, and risk management practices. All content is rigorously verified to ensure accuracy and relevance for financial decision-making.
Bookmark this page for direct access to Bank Leumi's latest financial disclosures and operational updates. Check regularly for new insights into the bank's role in Israel's evolving economic landscape and its responses to global financial trends.
Bank Leumi reported a net income of NIS 2.8 billion ($761 million) for Q1 2024, a significant increase from NIS 981 million ($267 million) in the same period last year. The bank's return on equity for the quarter was 20.2%, up from 7.8% last year. A cash dividend of NIS 835 million ($227 million) and a share buyback plan totaling NIS 1 billion ($272 million) were announced, amounting to 40% of the net income.
Leumi's deposits rose by 11.8%, and the loan portfolio increased by 2.2%. The bank maintains a strong efficiency ratio of 29%. A one-off capital gain of NIS 632 million ($172 million) was recorded from the sale of its Tel Aviv HQ. Key financial indicators include a liquidity coverage ratio of 133% and a Tier 1 capital ratio of 11.98%.
The bank's NPL ratio stands at 0.65%, one of the lowest in the sector. Relief programs and donations amounting to NIS 440 million ($120 million) were provided due to the war, impacting various sectors and individuals.
Bank Leumi (TASE: LUMI) will release its First Quarter 2024 Financial Results on May 28, 2024. A conference call for analysts and investors is scheduled for the same day at 5 PM (Israel); 3 PM (UK); and 10 AM (ET). The call will be hosted by Ms. Hagit Argov, Head of the Finance Division, and Mr. Omer Ziv, Deputy CEO and Head of the Capital Markets Division.
Participants can join the call using specific phone numbers provided for Israel, the UK, the US, Canada, and other locations. The presentation used during the call will be published on both the Israeli Securities Authority reporting website (MAGNA) and the Leumi website. An archived recording of the webcast will be available one business day after the results are published.
For more details, visit the investor relations page on the Leumi website or contact Michael Klahr, VP, Head of Investor Relations.
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