<A target=new href=http://www.bankleumi.co.il/>Bank Leumi</a> (TASE: <a href=Javascript:viewInstrument('604611',45,'EN')>LUMI</a>) posted a net profit of NIS 919 million in the third quarter of this year, 30% higher than in the corresponding quarter of 2015. The bank's return on equity in the quarter was an annualized 12.7%, which compares with 10.4% in the corresponding quarter.
<p>Net financing income in the third quarter was NIS 1.97 billion, representing an increase of 5% in comparison with the third quarter of 2015 when net financing income was NIS 1.87 billion.
<p>The bank, headed by Rakefet Russak-Aminoach, reports that 695 employees signed up for its voluntary retirement program, and that they will leave by the end of this year. About 640 more employees are expected to leave over the next five years.
<p>At the end of the third quarter, Bank Leumi had shareholders' equity of NIS 31.2 billion, which compares with NIS 28.6 billion at the end of the third quarter of 2015, representing growth of 9.3%. The balance sheet footing was NIS 431.8 billion, 5.7% higher than at the end of the corresponding quarter.
<p>Net credit to the public totaled NIS 264.4 billion at the end of the third quarter, slightly higher than at the end of the third quarter of 2015. Deposits from the public totaled NIS 336.9 billion, up 6% in comparison with the end of the third quarter of 2015.
<p><i>Published by Globes [online], Israel business news - <a href=http://www.globes-online.com>www.globes-online.com</a> - on November 16, 2016</i>
<p><i>© Copyright of Globes Publisher Itonut (1983) Ltd. 2016</i>