Bank Leumi (TASE: LUMI) reported a sharp rise in its annual profit from NIS 1.4 billion in 2014 to NIS 2.83 billion in 2015 in the fourth quarter and full year results it released this morning.
Net interest revenue fell to NIS 7.11 billion in 2015 from NIS 7.36 billion in 2014, while non-interest revenue rose to NIS 6.29 billion in 2015 from NIS 5.14 billion in 2014.
The bank's return on equity rose sharply last year to 10.3% compared with 5.4% in 2014. The credit portfolio grew 3.5% to NIS 261.4 billion. Deposits from the public totaled NIS 328.7 billion at the end of 2015, up 8.3% from NIS 303.4 billion at the end of 2014.
Bank Leumi's capital adequacy ratio was 13.74% at the end of 2015, while the core ratio was 9.58%, compared with 9.09% at the end of 2014.
Bank Leumi chairman David Brodet had a salary cost of 5.82 million last year, or which NIS 2.18 million was salary and NIS 1.35 was bonuses. CEO Rakefet Russak-Aminoach had a salary cost of NIS 8.12 million last year, of which NIS 2.51 million was salary and NIS 3.71 million was equity-based compensation.
Published by Globes [online], Israel business news - www.globes-online.com - on February 29, 2016
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