Net Profit totaled NIS 625
million Return on Equity of 10.2%
Core Tier 1 Capital of 8.5%
TEL AVIV, Israel, Nov. 29, 2012 (GLOBE NEWSWIRE) --Bank
Hapoalim (TASE:POLI) (ADR:BKHYY), Israel's leading
financial group, today announced financial results for the third
quarter ended September 30, 2012.
Third Quarter 2012 Financial Highlights:
- Net profit totaled NIS 625 million compared
with a profit of NIS 607 million in the second quarter of
2012.
- Return on equity reached 10.2%, on an
annualized basis, similar to the second quarter of 2012.
- Profit from regular financing activity totaled
NIS 2,024 million, similar to the second quarter of 2012.
- Capital adequacy ratio continued to improve
and totaled 15.1% compared to 14.1% at the end of 2011.
- Core Tier 1 Capital ratio rose to 8.5%
compared with 7.9% at the end of 2011.
Main developments in the financial statements for the
third quarter of 2012:
Profit from regular financing activity totaled
NIS 2,024 million in the third quarter of 2012, compared with a
profit of NIS 2,025 million in the previous quarter.
The financial margin from regular activity
decreased to 2.30% in the third quarter of 2012, compared with
2.38% in the previous quarter.
Provision for credit losses in the third
quarter of 2012 totaled NIS 286 million compared with NIS 344
million in the previous quarter. The rate of provision as a
percentage of credit to the public reached 0.45% at the end of the
third quarter compared with 0.55% in the previous quarter.The
decrease resulted from a decline in the provision for debt examined
on an individual basis.
Fees and other income totaled NIS 1,335 million
in the third quarter of 2012 compared with NIS 1,266 million in the
previous quarter, an increase of 5.5%. The increase resulted mainly
in fees from securities and credit card activities.
Operating and other expenses totaled NIS 2,249
million in the third quarter of 2012 compared with NIS 2,118
million in the previous quarter, an increase of 6.2%, mainly as a
result of an increase in VAT taxes and the Bank's share
price.
Contribution to the community - The Bank's
employees are involved in a varied and extensive range of
community-oriented activities that take the form of social
involvement, monetary donations, and large-scale volunteer
activities. Bank Hapoalim's community-oriented activity during the
first nine months of 2012 was expressed in a financial value of
approximately NIS 38 million.
Developments in Balance Sheet Items:
The consolidated balance sheet as at September
30, 2012 totaled NIS 367.4 billion, compared with NIS 356.7 billion
at the end of 2011, an increase of 3.0%.
Net Credit to the public as at September 30,
2012 totaled NIS 249.9 billion, compared with NIS 246.5 billion at
the end of 2011, an increase of 1.4% mainly as a result of an
increase in retail and commercial credit.
Deposits from the public totaled NIS 264.5
billion compared with NIS 256.4 billion at the end of 2011, an
increase of 3.1%. The increase is mainly a result of increased core
deposits in the retail segment in Israel, which were partially
offset by a decrease in deposits in the corporate segment.
Shareholders' Equity totaled NIS 25,759 million
as at September 30, 2012, compared with NIS 23,819 million at the
end of 2011, an increase of 8.1%, mainly stemming from retained
earnings.
Total Capital Adequacy Ratio
stood at 15.1% at the end of the third quarter of 2012 compared to
14.1% at the end of 2011.
Core Tier 1 Capital Ratio stood at 8.5% at the
end of the third quarter of 2012, compared to 7.9% at the end of
2011.
Conference Call Information
Bank Hapoalim will host a conference call as well as a slides
webcast today to review the third quarter 2012 financial results at
9:00 a.m. U.S. Eastern Time / 2:00 p.m. UK Time / 4:00 p.m.
Israel.
To access the call, please dial: 1-888-281-1167 in the U.S. and
1-866-485-2399 in Canada or (972)-3-9180685 for international
participants. No password is required. The presentation slides,
earnings release and the third quarter 2012 financial statement
will be available at the Bank's website, www.bankhapoalim.com,
under Investor Relations, Financial Information.
A replay of the conference call will be available beginning at
approximately 1:00 p.m. U.S. Eastern Time / 6:00 p.m. UK Time /
8:00 p.m. Israel on Thursday, November 29, through 1:00 p.m.
Eastern Time / 6:00 p.m. UK Time / 8:00 p.m. Israel December 7,
2012, by telephone at (972) 3-9255901 (international).
The replay will also be available by audio playback on the Bank
Hapoalim website at www.bankhapoalim.com, under Investor Relations,
Financial Information.
About Bank Hapoalim
Bank Hapoalim is Israel's leading financial group. In Israel,
the Bank Hapoalim Group has over 280 branches, eight regional
business centers, a network of business branches and specialized
industry relationship managers for major corporate customers.
The Bank Hapoalim Group includes Isracard Ltd, Israel's leading
credit card company as well as financial companies involved in
investment banking, trust services and portfolio management.
Internationally, Bank Hapoalim operates through branches,
subsidiaries and representative offices, in North and Latin
America, Europe, the Far East, and Turkey. In these markets, the
Bank is engaged in trade, corporate finance, private banking and
retail banking.
Bank Hapoalim is the only Israeli Bank listed on both the Tel
Aviv and London Stock Exchange. In addition, a Level-1 ADR is
traded "over-the-counter" in New York.
For more information about Bank Hapoalim, please visit us online
at www.bankhapoalim.com.
| Principal Data of the
Bank Hapoalim Group |
|
(In NIS millions) |
|
|
|
|
| Profit and
Profitability |
For the three months
ended |
| |
Sept. 30, 2012 |
June 30, 2012 |
Mar. 31, 2012 |
Dec. 31, 2011 |
Sept. 30, 2011 |
| Net financing income*** |
2,115 |
2,041 |
2,148 |
1,963* |
1,660* |
| Non-interest income*** |
1,335 |
1,266 |
1,307 |
1,272* |
1,298* |
| Total income |
3,450 |
3,307 |
3,455 |
3,235* |
2,958* |
| Provision for credit losses |
286 |
344 |
303 |
363 |
498 |
| Operating and other expenses |
2,249 |
2,118 |
2,104 |
2,197 |
2,033 |
| Net profit attributed to shareholders of the
Bank |
625 |
607 |
659 |
672 |
471 |
| |
|
|
| |
For the nine months
ended |
For the year ended |
| |
Sept. 30, 2012 |
Sept. 30, 2011 |
Dec. 31, 2011 |
| Net financing income*** |
6,304 |
5,921* |
7,884* |
| Non-interest income*** |
3,908 |
3,932* |
5,204* |
| Total income |
10,212 |
9,853* |
13,088* |
| Provision for credit losses |
933 |
839 |
1,202 |
| Operating and other expenses |
6,471 |
6,168 |
8,365 |
| Net profit attributed to shareholders
of the Bank |
1,891 |
2,074 |
2,746 |
| Balance Sheet
– Principal Data |
|
|
| |
Sept. 30, 2012 |
June 30, 2012 |
Mar. 31, 2012 |
Dec. 31, 2011 |
Sept. 30, 2011 |
| Total balance sheet |
367,365 |
362,105 |
350,350 |
356,662 ** |
341,967 ** |
| Net credit to the public |
249,904 |
248,614 |
244,804 |
246,495 |
244,577 |
| Securities |
53,076 |
40,728 |
36,903 |
34,411 |
27,789 |
| Deposits from the public |
264,490 |
259,668 |
251,576 |
256,417 |
242,931 |
| Bonds and subordinated notes |
36,051 |
35,679 |
34,422 |
32,933 |
32,050 |
| Shareholders' equity |
25,759 |
24,907 |
24,440 |
23,819 ** |
23,050 ** |
| Total problematic credit risk**** |
14,718 |
13,890 |
14,498 |
12,799 |
13,233 |
| Of which: impaired balance-sheet
debts**** |
6,988 |
7,139 |
6,825 |
7,044 |
7,170 |
| |
| |
|
|
|
|
|
| Main Financial Ratios
(%) |
For the three months
ended |
| |
Sept. 30, 2012 |
June 30, 2012 |
Mar. 31, 2012 |
Dec. 31, 2011 |
Sept.30, 2011 |
| Net loan to deposit
ratio |
94.5% |
95.7% |
97.3% |
96.1% |
100.7% |
| Net loan to deposit ratio
including bonds and subordinated notes |
83.2% |
84.2% |
85.6% |
85.2% |
88.9% |
| Shareholders' equity to total
assets |
7.0% |
6.9% |
7.0% |
6.7% |
6.7% |
| Core Tier I capital to
risk-adjusted assets |
8.5% |
8.3% |
8.2% |
7.9% |
7.7% |
| Tier I capital to risk-adjusted
assets |
9.3% |
9.1% |
9.0% |
8.7% |
8.5% |
| Total capital to risk-adjusted
assets |
15.1% |
14.8% |
14.7% |
14.1% |
13.6% |
| Financing margin from regular
activity(a)(b) |
2.30% |
2.38% |
2.29% |
2.28%* |
2.41%* |
| Cost-income ratio |
65.2% |
64.0% |
60.9% |
67.9%* |
68.7%* |
| Provision for credit losses as a percentage
of the average recorded balance of credit to the public (a) |
0.45% |
0.55% |
0.49% |
0.61% |
0.84% |
| Net return of profit attributed
to shareholders of the Bank on equity(a) |
10.2% |
10.2% |
11.3% |
11.9% |
8.5% |
| Basic net profit per share in NIS
attributed to shareholders of the Bank |
0.47 |
0.46 |
0.50 |
0.51 |
0.36 |
| Diluted net profit per share in
NIS attributed to shareholders of the Bank |
0.47 |
0.46 |
0.49 |
0.50 |
0.35 |
| |
|
|
|
|
|
| (a) Calculated on an annualized
basis. |
| |
| (b) Calculation: Financing profit
from regular activity is divided by monetary assets generating
financing income. |
| Financing profit from regular
activity includes net interest income and non-interest financing
income. |
| |
| * The Bank adopted the directive
of the Supervisor of Banks concerning the format for statements of
profit and loss of banking corporations for the first time on
January 1, 2012. The directives were adopted by retroactive
implementation, with the exception of the cancellation of unpaid
accrued CPI linkage differentials on principal in respect of debts
classified as impaired prior to the initial implementation.
Accordingly, the data included in the statement of profit and loss
with regard to comparison periods last year were reclassified for
adjustment to the new definition, item headings, and presentation
method of the current reporting period. For details, see Note 1(C)
1 to the Condensed Financial Statements. |
| |
| ** Restated, due to the
retroactive implementation of the directives of the Supervisor of
Banks regarding financial reporting on employee benefits. For
further details, see Note 1(D) to the Condensed Financial
Statements. |
| |
| *** Restated due to the initial
implementation of International Accounting Standard 12, Taxes on
Income, see Note 1(C)(2.2) to the Condensed Financial
Statements. |
| |
| **** Net of the individual
allowance and the allowance according to the extent of
arrears. |
CONTACT: For further information please contact:
Press: Ofra Preuss, Bank's Spokesperson
Tel: +972-3-567-3635; Fax: +972-3-567-3500
spokesperson@mailpoalim.co.il
Investors: Effie Werber, Head of Investor Relations
Tel. +972-3-567-3440; Fax: +972-3-5673470
effie.werber@mailpoalim.co.il
Bank Hapoalim BM (PK) (USOTC:BKHYY)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Bank Hapoalim BM (PK) (USOTC:BKHYY)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024
