Israel Discount Bank (TASE: DSCT) posted an 82.6% jump in its third quarter profit to NIS 221 million from NIS 121 million in the third quarter of 2011.
The bank's total revenue was NIS 1.997 billion in the quarter, of which NIS 1.142 was interest and NIS 855 million non-interest income.
The "Globes"-Psagot consensus analysts estimate was for earnings per share of NIS 0.18 on revenue of NIS 1.861 billion.
The bank's return on equity in the third quarter was 7.9%, compared with 4.7% in the third quarter of 2011. Its capital adequacy ratio was 14.2%, and its core capital adequacy ratio 8.4%.
Discount Bank CEO Reuven Spiegel said, "The results for the third quarter of 2012 indicate continued stability in the bank's profitability, and ongoing improvement in its business parameters. As far as revenue is concerned, the bank shows substantial improvement in comparison with the previous quarter and the corresponding quarter last year. The bank's total net interest income and non-interest income grew by 5% in comparison with the previous quarter, and by 12% in comparison with the corresponding quarter last year."
Credit to the public grew by 2.3% by the end of the third quarter of 2012 to NIS 119 billion from NIS 116.4 billion at the end of 2011. Deposits from the public grew by 0.9% to NIS 154.7 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on November 29, 2012
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