March 7, 2018 / 6:56 AM / 5 months ago

Israel Discount Bank Q4 profit more than doubles

TEL AVIV, March 7 (Reuters) - Israel Discount Bank reported a 156 percent rise in fourth-quarter net profit, boosted by higher financing income and lower credit loss provisions.

Israel’s fourth-largest bank by assets said on Wednesday it earned 371 million shekels ($107 million), up from 145 million a year earlier. It had been forecast to earn 280 million shekels, according to a Reuters poll of analysts.

Net interest income rose 11.2 percent to 1.297 billion shekels while credit loss expenses fell to 31 million shekels from 224 million a year earlier.

The bank’s tier 1 capital adequacy ratio, which measures equity capital as a percentage of total risk-weighted assets, rose to 10.0 percent from 9.8 percent in 2016.

Discount has said it would start paying quarterly dividends of up to 15 percent of net profit starting in the first quarter. ($1 = 3.4616 shekels) (Reporting by Tova Cohen, Editing by Steven Scheer)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below