Bank Leumi Le-Israel reports recurring developments tied to its Israeli banking operations, including quarterly and annual financial results, loan-portfolio growth, deposit trends, credit quality, and efficiency metrics. Company updates frequently discuss activity in corporate, commercial, and mortgage lending, as well as nonperforming-loan ratios, loan-loss expenses, capital adequacy, and liquidity coverage.
News for BLMIF also covers capital-return actions such as cash dividends and share buybacks, investor conference calls, and presentation materials released alongside financial statements through Israeli market reporting channels.
Bank Leumi (TASE: LUMI) has announced the release of its Second Quarter 2024 Financial Results on August 14, 2024. A conference call for analysts and investors will be held on the same day at 5 PM (Israel); 3 PM (UK); 10 AM (ET) to discuss the results. Ms. Hagit Argov, Head of the Finance Division, will host the call along with Mr. Omer Ziv, Deputy CEO and Head of the Capital Markets Division, followed by a Q&A session.
Participants can access the call using provided phone numbers for various locations. A presentation will be published on the Israeli Securities Authority reporting website (MAGNA) and the Leumi website under Investor Relations. An archived recording of the webcast will be available on the Leumi website one business day after the publication of results.
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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