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Israel Discount Bank Announces Q4 And Full Year 2012 Financial Results

Main factors affecting the Group's business results in 2012, compared to 2011:

  • A decrease of NIS 158 million in net interest income (3.4%).
  • A decrease of NIS 52 million in expenses for credit losses (6.7%).
  • An increase of NIS 320 million in non-interest income (10.9%), affected mainly by an increase of NIS 254 million in non-interest financing income (259.2%), an increase of NIS 15 million in commissions (0.6%) and an increase in other income, affected mainly by an increase in severance pay fund profits of NIS 137 million. It should be noted that in 2011, non-interest financing income included NIS 48 million from the sale of the index-linked notes operation and other income included a receipt of NIS 67 million from an insurance company.
  • A decrease of NIS 19 million in operating and other expenses (0.3%), affected mainly by a decrease of NIS 22 million in salaries and related expenses (0.6%), an increase of NIS 44 million in maintenance and depreciation of buildings and equipment (3.8%) and a decrease of NIS 40 million in other expenses (3.3%).
  • A provision for income taxes of NIS 407 million in 2012, compared to NIS 114 million in 2011.
  • An increase of NIS 3 million in the Bank's share in the income of affiliated companies, net of tax effect. The income for 2012 is net of a provision for impairment of the Bank's investment in the shares of the First International Bank in a net amount of NIS 73 million.

Main Balance Sheet Developments as of December 31, 2012:

  • Total Assets decreased by 0.8%, amounting to NIS 200.9 billion, compared to NIS 202.5 billion at the end of 2011.
  • Net Credit granted to the public, increased by 1.1%, amounting to NIS 117.6 billion, compared to NIS 116.4 billion at the end of 2011.
  • Deposits from the public decreased by 0.9%, amounting to NIS 151.9 billion, compared to NIS 153.4 billion at the end of 2011.
  • The Equity attributable to the Bank's Shareholders increased by 10.6%, amounting to NIS 11.8 billion, compared to NIS 10.7 billion at the end of 2011.
  • Total Equity increased by 10.1%, amounting to NIS 12.1 billion, compared to NIS 11.0 billion at the end of 2011.

Data Regarding Subsidiaries

    2012
                                                         Return on
                                                         Equity
                                                         Attributable Capital
                                               Net       to           Adequacy
                                               Income    Shareholders 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
    71.83% of the equity)                      NIS 209 M        17.8%    16.8%

* In conformity with U.S. Reporting Standards

    2011
                                                         Return on
                                                         Equity
                                                         Attributable Capital
                                               Net       to           Adequacy
                                               income    Shareholders Ratio
    Discount Bancorp Inc.                      USD 46 M          5.9%   *16.5%
    Mercantile Discount Bank                   NIS 162 M         9.6%    13.2%
    Israel Credit Cards (ICC) (the Bank holds
    71.83% of the equity)                      NIS 229 M        20.6%    16.7%

* In conformity with U.S. Reporting Standards

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