Bank Leumi Le-Israel Ltd ( (BLMIF) ) has released its Q4 earnings. Here is a breakdown of the information Bank Leumi Le-Israel Ltd presented to its investors.
Bank Leumi Le-Israel Ltd, a leading financial institution in Israel, operates in the banking sector, providing a range of financial services including corporate, commercial, and mortgage lending.
Bank Leumi’s 2024 financial report reveals a significant 40% increase in net income, reaching NIS 9.8 billion ($2.7 billion), with a return on equity of 17%. The bank also reported a capital return of approximately NIS 4 billion ($1.1 billion) for the year.
Key highlights from the report include a strong efficiency ratio of 29.9%, the best among Israeli banks, and an 8.6% growth in the loan portfolio. The bank maintained a low non-performing loan ratio of 0.5% and a troubled debt rate of 1.4%, reflecting the quality of its loan portfolio. Additionally, deposits by the public increased by 8.9%, and the bank’s liquidity coverage ratio stood at 123%.
Looking ahead, Bank Leumi has set ambitious financial targets for 2025-2026, aiming for an annual net income of NIS 9-11 billion ($2.5-$3.0 billion) and a return on equity of 15%-16%. The bank plans to return at least 50% of its net income as capital each year and expects an annual loan portfolio growth of 8%-10%.
Bank Leumi’s management remains optimistic about the future, focusing on strategic growth in key segments and maintaining robust financial health, positioning the bank well for continued success in the coming years.