- Q3 Net Income - NIS 276
million compared to NIS 221
million in Q3/2012, an increase of 24.9%
- Q3 Net Return on Equity attributable to the Bank's
Shareholders – 9.5% compared to 7.9% in
Q3/2012
- Net Income for the first nine months of 2013 –
NIS 802 million compared to
NIS 633 million for the first nine
months of 2012, an increase of 26.7%.
- Net Return on Equity attributable to the Bank's
Shareholders for the first nine months of 2013 – 9.0% compared to
7.7% for the first nine months of 2012, and compared to 7.1% for
the whole of 2012.
- Ratio of Capital to Risk Assets – 14.4%. Core Capital
Ratio – 9.3%
TEL-AVIV, Israel, Nov. 27, 2013 /PRNewswire/ -- Israel Discount
Bank Limited (TASE:DSCT), one of Israel's leading banks, today reported its
Q3/2013 financial results.
(Logo: http://photos.prnewswire.com/prnh/20120820/554838 )
The Discount Group's Net Income for the first nine months of
2013 totaled NIS 802 million,
compared to NIS 633 million for the
first nine months of 2012, an increase of 26.7%.
The Return on Equity attributable to the Bank's Shareholders'
for the first nine months of 2013 was 9.0%, compared to 7.7% for
the first nine months of 2012.
Main factors affecting the Group's business results for the
first nine months of 2013, compared to the first nine months of
2012:
- A decrease of NIS 214 million in
net interest income (6.3%).
- A decrease of NIS 17 million in
expenses for credit losses (3.6%).
- An increase of NIS 185 million in
non-interest income (7.5%), affected by an increase of NIS 223 million in non-interest financing income
(76.1%), a decrease of NIS 5 million
in commissions (0.2%) and a decrease of NIS
33 million in other income (21.3%).
- An increase of NIS 14 million in
operating and other expenses (0.3%), affected mainly by an increase
of NIS 39 million in salaries and
related expenses (1.5%), which was partially offset by a decrease
of NIS 20 million in other expenses
(2.3%).
- A provision for income taxes of NIS 254
million in the first nine months of 2013, compared to
NIS 300 million in the first nine
months of 2012.
- An increase of NIS 133 million in
the Bank's share in the income of affiliated companies, net of tax
effect, which was affected by a revision of NIS 45 million to the computation of the tax
provision on the Bank's share of First International Bank's income.
The income in the first nine months of 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 September 30, 2013:
- Total Assets decreased by 0.5%, amounting to NIS 200 billion, compared to NIS 201 billion at the end of 2012.
- Net Credit granted to the public decreased by 0.9%, amounting
to NIS 116.5 billion, compared to
NIS 117.6 billion at the end of
2012.
- Deposits from the public increased by 0.1%, amounting to
NIS 152.1 billion, compared to
NIS 151.9 billion at the end of
2012.
- Equity attributable to the Bank's Shareholders increased by
3.3%, amounting to NIS 12.2 billion,
compared to NIS 11.8 billion at the
end of 2012.
- Total Equity increased by 3.3%, amounting to NIS 12.5 billion, compared to NIS 12.1 billion at the end of 2012.
DATA REGARDING SUBSIDIARIES
|
|
|
FIRST NINE MONTHS OF
2013
|
|
|
|
Net
Income
|
Return
on
Equity
|
Capital
Adequacy
Ratio
|
|
|
Discount Bancorp Inc.
|
USD 29 M
|
4.7%
|
*14.8%
|
|
|
Mercantile Discount
Bank
|
NIS 136 M
|
9.8%
|
14.6%
|
|
|
Israel Credit Cards (ICC) (the
Bank holds 71.8% of the equity)
|
NIS 104 M
|
13.0%
|
16.8 %
|
|
|
|
|
|
|
|
* In conformity with mandatory
rules in the U.S.A.
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
FIRST NINE MONTHS OF
2012
|
|
|
|
Net
income
|
Return
on
Equity
|
Capital
Adequacy
Ratio
|
|
|
Discount Bancorp Inc.
|
USD 36 M
|
5.9%
|
*15.2%
|
|
|
Mercantile Discount
Bank
|
NIS 128 M
|
9.8%
|
14.2%
|
|
|
Israel Credit Cards (ICC) (the
Bank holds 71.8% of the equity)
|
NIS 162 M
|
19.1%
|
16.9%
|
|
|
|
|
|
|
|
* 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)
|
|
|
Third
Quarter
|
Nine
Months
|
Annual
|
|
|
2013
|
2012
|
% change
|
2013
|
2012
|
% change
|
2012
|
|
|
Net interest income
|
1,094
|
1,142
|
(4.2)
|
3,179
|
3,393
|
(6.3)
|
4,459
|
|
|
Expenses for credit
losses
|
171
|
233
|
(26.6)
|
457
|
474
|
(3.6)
|
726
|
|
|
Total non-interest
income
|
839
|
860
|
(2.4)
|
2,658
|
2,473
|
7.5
|
3,257
|
|
|
Total operating and other
expenses
|
1,485
|
1,494
|
(0.6)
|
4,461
|
4,447
|
0.3
|
5,826
|
|
|
Income before taxes
|
277
|
275
|
0.7
|
919
|
945
|
(2.8)
|
1,164
|
|
|
Income after taxes
|
230
|
197
|
16.8
|
665
|
645
|
3.1
|
757
|
|
|
Net income attributable to the
Bank's shareholders
|
276
|
221
|
24.9
|
802
|
633
|
26.7
|
802
|
|
|
Net return on equity
attributable to the Bank's shareholders in %
|
9.5
|
7.9
|
|
9.0
|
7.7
|
|
7.1
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
DEVELOPMENT OF ASSETS AND
LIABILITIES (IN NIS MILLIONS)
|
|
|
September
30
|
December
31
|
|
|
2013
|
2012
|
% change
|
2012
|
% change
|
|
|
Total Assets
|
200,025
|
205,240
|
(2.5)
|
201,012
|
(0.5)
|
|
|
Net Credit granted to the
public
|
116,498
|
119,040
|
(2.1)
|
117,611
|
(0.9)
|
|
|
Securities
|
47,124
|
45,334
|
3.9
|
46,001
|
2.4
|
|
|
Deposits from the
public
|
152,111
|
154,688
|
(1.7)
|
151,935
|
0.1
|
|
|
Equity attributable to the
Bank's shareholders
|
12,228
|
11,613
|
5.3
|
11,838
|
3.3
|
|
|
Total Equity
|
12,531
|
11,943
|
4.9
|
12,134
|
3.3
|
|
|
|
|
|
|
|
|
| |
|
|
|
PRINCIPAL FINANCIAL RATIOS (IN
PERCENTAGES)
|
|
|
September
30
|
December
31
|
|
|
2013
|
2012
|
2012
|
|
|
Total Equity to Total
Assets
|
6.3
|
5.8
|
6.0
|
|
|
Ratio of capital to risk
assets
|
14.4
|
14.2
|
14.3
|
|
|
Core Capital ratio
|
9.3
|
8.4
|
8.6
|
|
|
Expenses for credit losses to
average balance of credit granted to the public
|
0.51
|
0.53
|
0.61
|
|
|
Net Credit granted to the
public, to total assets
|
58.2
|
58.0
|
58.5
|
|
|
Net Credit granted to the
public, to deposits from the public
|
76.6
|
77.0
|
77.4
|
|
|
Deposits from the public to
total assets
|
76.0
|
75.4
|
75.6
|
|
|
Total Non-Interest Income to
Operating Expenses
|
59.6
|
55.6
|
55.9
|
|
|
Operating Expenses to Total
Income
|
76.4
|
75.8
|
75.5
|
|
|
Adjusted Return on Risk
Assets
|
10.2
|
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