Bank Leumi reports quarterly profits up 18 percent year on year

Bank Leumi, one of Israel’s two largest lenders, saw its quarterly profits jump 18 percent to NIS 2.7 billion ($827 million) in the July to September period, from NIS 2.3 billion ($704 million) in the corresponding period last year, as credit to mortgage and loan holders increased.

Net interest income declined 1.6% in the reported quarter of the year to NIS 4.47 billion ($1.37 billion) from about NIS 4.55 billion ($1.39 billion) during the same period in 2024. Fee income generated NIS 977 million ($299 million) in the third quarter, down 0.7% compared to the NIS 984 million ($301 million) posted during the same period last year.

Net credit to the public amounted to NIS 495.4 billion ($149.8 billion) as of September 30, up 10.8% from the NIS 447 billion ($135.2 billion) recorded a year ago.

Housing loans or mortgages rose 8% to NIS 154.1 billion ($46.6 billion) as of the end of September, from NIS 142.7 billion ($43.2 billion) year-on-year. Credit to retail customers was up 2.6% in the third quarter and totaled NIS 31.1 billion ($9.4 billion), compared to NIS 30.3 billion ($9.2 billion) a year ago.