TEL-AVIV, Israel, Aug. 28, 2013 /PRNewswire/ -- Israel
Discount Bank Limited (TASE: DSCT), one of Israel's leading banks, today reported its
Q2/2013 financial results.
(Logo: http://photos.prnewswire.com/prnh/20120820/554838)
The Discount Group's Net Income in H1/2013 totaled
NIS 526 million, compared to
NIS 412 million in H1/2012, an
increase of 27.7%.
The Return on Equity attributable to the Bank's Shareholders'
in H1/2013 was 9.0%, compared to 7.7% in H1/2012.
Main factors affecting the Group's business results in H1/2013,
compared to H1/2012:
- A decrease of NIS 166 million in net interest income
(7.4%).
- An increase of NIS 45 million in expenses for credit
losses (18.7%).
- An increase of NIS 206 million in
non-interest income (12.8%), affected by an increase of
NIS 227 million in non-interest financing income (114.1%), an
increase of NIS 4 million in commissions (0.3%) and a decrease
of NIS 25 million in other income (30.5%).
- An increase of NIS 23 million in
operating and other expenses (0.8%), affected mainly by an increase
of NIS 32 million in salaries and related expenses
(1.8%).
- A provision for income taxes of NIS 207 million in
H1/2013, compared to NIS 222 million in H1/2012.
- An increase of NIS 116 million in
the Bank's share in the income of affiliated companies, net of tax
effect, which was affected by a revision to the computation of the
tax provision on the Bank's share of First International Bank's
income. The income in H1/2012 is after the provision of
NIS 73 million, net, for impairment
of the investment in the shares of First International Bank.
Main Balance Sheet Developments as of June 30, 2013:
- Total Assets decreased by 1.9%, amounting to NIS 197.2 billion, compared to NIS 201.0
billion at the end of 2012.
- Net Credit granted to the public decreased by 2.1%, amounting
to NIS 115.1 billion, compared to
NIS 117.6 billion at the end of
2012.
- Securities increased by 6.2%, amounting to NIS 48.8 billion, compared to NIS 46.0 billion at the end of 2012.
- Deposits from the public decreased by 1.6%, amounting to
NIS 149.5 billion, compared to
NIS 151.9 billion at the end of
2012.
- Equity attributable to the Bank's Shareholders increased by
1.3%, amounting to NIS 12.0 billion,
compared to NIS 11.8 billion at the
end of 2012.
- Total Equity increased by 1.3%, amounting to NIS 12.3 billion, compared to NIS 12.1 billion at the end of 2012.
|
DATA REGARDING
SUBSIDIARIES
|
|
H1/2013
|
|
|
Net
Income
|
Return on
Equity
|
Capital
Adequacy
Ratio
|
|
Discount Bancorp
Inc.
|
USD 18 M
|
4.4%
|
*15.5%
|
|
Mercantile Discount
Bank
|
NIS 101 M
|
11.0%
|
14.4%
|
|
Israel Credit Cards
(ICC) (the Bank holds 71.8% of the equity)
|
NIS 67 M
|
12.6%
|
16.7 %
|
|
* In conformity with
mandatory rules in the U.S.A.
|
|
|
|
H1/2012
|
|
|
Net
income
|
Return on
Equity
|
Capital
Adequacy
Ratio
|
|
Discount Bancorp
Inc.
|
USD 22 M
|
5.5%
|
*15.5%
|
|
Mercantile Discount
Bank
|
NIS 84 M
|
9.8%
|
14.2%
|
|
Israel Credit Cards
(ICC) (the Bank holds 71.8% of the equity)
|
NIS 108 M
|
19.6%
|
17.0%
|
|
|
* In conformity with
mandatory rules in the U.S.A.
|
|
|
|
2012
|
|
|
Net
Income
|
Return on
Equity
|
Capital
Adequacy
Ratio
|
|
Discount Bancorp
Inc.
|
USD 43 M
|
5.3%
|
*15.4%
|
|
Mercantile Discount
Bank
|
NIS 191 M
|
10.8%
|
15.0%
|
|
Israel Credit Cards
(ICC) (the Bank holds 71.8% of the equity)
|
NIS 209 M
|
17.8%
|
16.8%
|
|
|
* In conformity with
mandatory rules in the U.S.A.
|
|
DISCOUNT GROUP -
PRINCIPAL DATA FROM THE CONSOLIDATED
FINANCIAL STATEMENTS
|
|
INCOME AND
PROFITABILITY (IN NIS MILLIONS)
|
|
Second
Quarter
|
Half
Year
|
Annual
|
|
2013
|
2012
|
% change
|
2013
|
2012
|
% change
|
2012
|
|
Net interest
income
|
1,041
|
1,153
|
(9.7)
|
2,085
|
2,251
|
(7.4)
|
4,459
|
|
Expenses for credit
losses
|
141
|
118
|
19.5
|
286
|
241
|
18.7
|
726
|
|
Total non-interest
income
|
924
|
744
|
24.2
|
1,819
|
1,613
|
12.8
|
3,257
|
|
Total operating and
other expenses
|
1,504
|
1,453
|
3.5
|
2,976
|
2,953
|
0.8
|
5,826
|
|
Income before
taxes
|
320
|
326
|
(1.8)
|
642
|
670
|
(4.2)
|
1,164
|
|
Income after
taxes
|
231
|
219
|
5.5
|
435
|
448
|
(2.9)
|
757
|
|
Net income
attributable to the Bank's
shareholders
|
263
|
165
|
59.4
|
526
|
412
|
27.7
|
802
|
|
Net return on equity
attributable to the Bank's
shareholders in
%
|
9.0
|
6.1
|
|
9.0
|
7.7
|
|
7.1
|
|
DEVELOPMENT OF ASSETS
AND LIABILITIES (IN NIS MILLIONS)
|
|
June
30
|
December
31
|
|
2013
|
2012
|
% change
|
2012
|
% change
|
|
Total
Assets
|
197,207
|
200,642
|
(1.7)
|
201,012
|
(1.9)
|
|
Net Credit granted to
the public
|
115,121
|
119,412
|
(3.6)
|
117,611
|
(2.1)
|
|
Securities
|
48,832
|
45,455
|
7.4
|
46,001
|
6.2
|
|
Deposits from the
public
|
149,502
|
150,862
|
(0.9)
|
151,935
|
(1.6)
|
|
Equity attributable
to the Bank's shareholders
|
11,991
|
11,307
|
6.0
|
11,838
|
1.3
|
|
Total
Equity
|
12,291
|
11,633
|
5.7
|
12,134
|
1.3
|
|
PRINCIPAL FINANCIAL
RATIOS (IN PERCENTAGES)
|
|
30.6.13
|
30.6.12
|
31.12.12
|
|
Total Equity to Total
Assets
|
6.2
|
5.8
|
6.0
|
|
Ratio of capital to
risk assets
|
14.4
|
14.1
|
14.3
|
|
Core Capital
ratio
|
9.1
|
8.3
|
8.6
|
|
Expenses for credit
losses to average balance of credit granted to the
public
|
0.48
|
0.41
|
0.61
|
|
Net Credit granted to
the public, to total assets
|
58.4
|
59.5
|
58.5
|
|
Net Credit granted to
the public, to deposits from the public
|
77.0
|
79.2
|
77.4
|
|
Deposits from the
public to total assets
|
75.8
|
75.2
|
75.6
|
|
Total
Non-Interest Income to Operating Expenses
|
61.1
|
54.6
|
55.9
|
|
Operating Expenses to
Total Income
|
76.2
|
76.4
|
75.5
|
|
Adjusted Return on
Risk Assets
|
10.1
|
8.3
|
7.8
|
Israel Discount Bank
Israel Discount Bank is a
leading financial group in Israel.
With nationwide coverage, Israel Discount Bank provides a full
spectrum of corporate and retail financial products and services to
its clients, both in Israel and
key financial centers around the world. Israel Discount Bank is
traded on the Tel Aviv Stock Exchange under the ticker DSCT.
Israel Discount Bank Ltd.
Head Office:
Discount Tower
23 Yehuda Halevi Street,
Tel Aviv, Israel
Tel: 972-3-5145555
Mobile: 972-52-2461151
www.discountbank.co.il
For additional details please contact:
Sarit Weiss
Spokesperson
Tel: 972-3-5145516
Mobile: 972-52-2461151
spokes@discountbank.net
SOURCE Israel Discount Bank Ltd