TEL-AVIV, Israel, August 28, 2013 /PRNewswire/ --
Q2 Net Income - NIS 263 million compared to NIS 165 million in Q2/2012, an increase of 59.4%
Q2 Net Return on Equity attributable to the Bank's Shareholders - 9.0% compared to 6.1% in Q2/2012
H1/2013 Net Income - NIS 526 million compared to NIS 412 million in H1/2012, an increase of 27.7%
H1/2013 Net Return on Equity attributable to the Bank's Shareholders - 9.0% compared to 7.7% in H1/2012, and compared to 7.1% for the whole of 2012.
Ratio of Capital to Risk Assets - 14.4%. Core Capital Ratio - 9.1%
Israel Discount Bank Limited (TASE: DSCT), one of Israel's leading banks, today reported its Q2/2013 financial results.
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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:
Main Balance Sheet Developments as of June 30, 2013:
DATA REGARDING SUBSIDIARIES H1/2013 Return Capital Net on Adequacy Income Equity 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 NIS 67 M 12.6% 16.7 % 71.8% of the equity) * In conformity with mandatory rules in the U.S.A. H1/2012 Return Capital Net on Adequacy income Equity 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 Return Capital Net on Adequacy Income Equity 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
http://www.discountbank.co.il
For additional details please contact:
Sarit Weiss
Spokesperson
Tel: +972-3-5145516
Mobile: +972-52-2461151
spokes@discountbank.net
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