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Name | Symbol | Market | Type |
---|---|---|---|
Israel Discount Bank Ltd (PK) | USOTC:ISDAY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 71.50 | 62.22 | 74.87 | 6 | 22:00:02 |
TEL-AVIV, Israel, March 19, 2014 /PRNewswire/ -- Israel Discount Bank (TASE: DSCT), today announces its financial results for Q4 and 2013.
Main highlights of Q4 and 2013 results:
Lilach Asher Topilsky, CEO of Discount Bank commented: "I am honored to be the CEO of Discount bank, one of the leading banks in Israel that I intend to strengthen, improve and grow over the coming years. In my first few weeks here, I have met a highly dedicated and professional workforce and a motivated and committed management team, who is both eager and willing to make important improvements. I believe there is much potential that can be realized in the coming years.
I am fully aware of the market's expectations regarding the publishing of our updated Strategic Plan and I can assure you that we are currently working on this and aim to present it by August. For now, I would only mention that we will continue the bank's focus on continued Retail Growth and further Efficiency Measures. It is clear to us and to the market, that the cost side is the key factor that encumbers the bank's performance".
Main metrics from the financial statements:
Main metrics from the Balance Sheet:
Conference call Information - The Bank will be hosting a conference call today at 16:00 (Israel); 14:00 (UK); 09:00 (EDT), during which management will review the results and be available to answer questions:
Israel & Other International Dial-in Number +972 3 918 0688
United Kingdom Dial-in Number +0 800 4048 418
United States Dial-in Number +1 866 652 8972
Presentation material will be available on our IR website prior to the call, accessible at www.discountbank.co.il/IR
DEVELOPMENTS IN INCOME AND EXPENSES IN NIS MILLIONS
for the year ended December 31 |
|||
2013 |
2012 |
Change in % | |
Interest income |
6,822 |
7,847 |
(13.1) |
Interest expenses |
2,572 |
3,388 |
(24.1) |
Interest income, net |
4,250 |
4,459 |
(4.7) |
Credit loss expenses |
580 |
726 |
(20.1) |
Net interest income after credit loss expenses |
3,670 |
3,733 |
(1.7) |
Non-interest Income |
|||
Non-interest financing income |
632 |
352 |
79.5 |
Commissions |
2,704 |
2,685 |
0.7 |
Other income |
183 |
220 |
(16.8) |
Total non-interest income |
3,519 |
3,257 |
8.0 |
Operating and other Expenses |
|||
Salaries and related expenses |
3,619 |
3,444 |
5.1 |
Maintenance and depreciation of buildings and equipment |
1,247 |
1,248 |
(0.1) |
Amortization of intangible assets |
- |
10 |
- |
Other expenses |
1,152 |
1,124 |
2.5 |
Total operating and other expenses |
6,018 |
5,826 |
3.3 |
Income before taxes |
1,171 |
1,164 |
0.6 |
Provision for taxes on income |
305 |
407 |
(25.1) |
Income after taxes |
866 |
757 |
14.4 |
Bank's share in income of affiliated companies, net of tax effect |
45 |
104 |
(56.7) |
Net income attributed to the non-controlling rights holders in consolidated companies |
(37) |
(59) |
(37.3) |
Net income attributed to Bank's shareholders |
874 |
802 |
9.0 |
Return on equity attributed to the Bank's shareholders, in % |
7.3 |
7.1 |
|
Net income attributed to Bank's shareholders - disregarding the provision for impairment in value of the investment in FIBI's shares |
1,032 |
875 |
17.9 |
Net return on equity attributed to the Bank's shareholders, in % - disregarding the provision for impairment in value of the investment in FIBI's shares |
8.6 |
7.8 |
BALANCE SHEET IN NIS MILLIONS
2013 |
2012 |
Change in % | |
Total assets |
200,507 |
201,012 |
(0.3) |
Credit to the public, net |
115,859 |
117,611 |
(1.5) |
Securities |
41,325 |
46,001 |
(10.2) |
Deposits from the public |
148,928 |
151,935 |
(2.0) |
Equity attributed to the Bank's shareholders |
12,233 |
11,838 |
3.3 |
Total equity |
12,538 |
12,134 |
3.3 |
COMPOSITION OF CREDIT TO THE PUBLIC BY SEGMENTS OF OPERATIONS
The following is a review of developments in the balance of net credit to the public, by segments of operations:
December 31, 2013 |
December 31, 2012 |
|||||
In NIS millions |
% of total |
In NIS |
% of total credit |
Rate of change | ||
Retail - household segment |
39,956 |
34.5 |
38,199 |
32.5 |
4.6 | |
Of which - housing loans |
19,753 |
17.0 |
19,440 |
16.5 |
1.6 | |
Retail - small business segment |
13,108 |
11.3 |
12,100 |
10.3 |
8.3 | |
Corporate banking segment |
40,807 |
35.2 |
45,363 |
38.6 |
(10.0) | |
Middle market banking segment |
18,612 |
16.1 |
18,327 |
15.6 |
1.6 | |
Private banking segment |
3,376 |
2.9 |
3,622 |
3.0 |
(6.8) | |
Total |
115,859 |
100.0 |
117,611 |
100.0 |
(1.5) | |
Company Contact
Tamar Koblenz
Head of Investor Relations
Tel: +972 3 5146593
Tamar.koblenz@discountbank.co.il
Logo - http://photos.prnewswire.com/prnh/20120820/554838
SOURCE Israel Discount Bank
Copyright 2014 PR Newswire
1 Year Israel Discount Bank (PK) Chart |
1 Month Israel Discount Bank (PK) Chart |
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