Record Net Profit and Return on Equity
The bank reported a 16.1% return on equity for the first 9 months and a net profit of ILS 7.3 billion, excluding ILS 380 million from insurance reimbursement.
Strong Credit Growth
The bank achieved an 8.1% credit growth year-to-date and an 11.4% increase in the credit portfolio over the last 12 months.
Impressive Cost Management
Operating and other expenses are lower versus all comparable periods, with a cost/income ratio of 30.6% for the quarter.
Positive Macroeconomic Environment
GDP grew at an annualized rate of 12.4% in the third quarter, and inflation decreased to a year-on-year rate of 2.5%.
Innovative Product Offering with Bit
The number of active Bit customers reached 3.45 million, and a new saving pockets feature allows customers to benefit from 4% interest.