Click here to close now.

Welcome!

.NET Authors: Plutora Blog, Aria Blog, Pat Romanski, Elizabeth White, Hovhannes Avoyan

News Feed Item

Israel Discount Bank Announces Q3/2012 Financial Results

TEL-AVIV, Israel, November 29, 2012 /PRNewswire/ --

Q3 Net Income - NIS 221 million compared to NIS 121 million in Q3/2011, an increase of 82.6%.

Q3 Net Return on Equity attributable to the Bank's Shareholders - 7.9% compared to 4.7% in Q3/2011.

Net Income for the first nine months of 2012 - NIS 633 million compared to NIS 628 million for the first nine months of 2011, an increase of 0.8%.

Excluding the provision for impairment of the Bank's investment in the shares of the First International Bank, the Net Income for the first nine months of 2012 would have amounted to NIS 706 million, an increase of 12.4% compared to the first nine months of 2011.

Net Return on Equity attributable to the Bank's Shareholders for the first nine months of 2012 - 7.7% compared to 8.2% for both the first nine months of 2011 and for the whole of 2011.

Excluding the provision for impairment of the Bank's investment in the shares of the First International Bank, the Net Return on Equity for the first nine months of 2012 would have reached 8.6%.

Ratio of Capital to Risk Assets- 14.2%, Core Capital Ratio - 8.4%

Israel Discount Bank Limited (TASE:DSCT), one of Israel's leading banks, today reported its Q3/2012 financial results.

     (Logo: http://photos.prnewswire.com/prnh/20120820/554838 )

The Discount Group's Net Income for the first nine months of 2012 totaled NIS 633 million, compared to NIS 628 million for the first nine months of 2011, an increase of 0.8%.  

The Return on Equity attributable to the Bank's Shareholders for the first nine months of 2012 was 7.7%, on an annual basis, compared to 8.2% for the first nine months of 2011.

Main factors affecting the Group's business results for the first nine months of 2012, compared to the first nine months of 2011:

-    A decrease of NIS 116 million in net interest income (3.3%).

-    A decrease of NIS 52 million in expenses for credit losses (9.9%).

-    An increase of NIS 217 million in non-interest income (9.7%), affected mainly by an increase of NIS 183 million in non-interest financing income (181.2%), an increase of NIS 18 million in commissions (0.9%) and an increase of NIS 127 in severance pay fund profits. It should be noted that in the first nine months of 2011, other income included NIS 48 million from the sale of the index-linked notes operation and a receipt of NIS 67 million from an insurance company.

-    An increase of NIS 59 million in operating and other expenses (1.3%), affected mainly by an increase of NIS 17 million in salaries and related expenses (0.6%) and an increase of NIS 45 million in maintenance and depreciation of buildings and equipment (5.3%).

-    A provision for income taxes of NIS 300 million in the first nine months of 2012, compared to NIS 246 million in the first nine months of 2011, affected, inter alia, by an increase of NIS 25 million in the balance of deferred tax assets, as a result of changes in the tax rates.

-    A decrease of NIS 48 million in the Bank's share in the operating income of affiliated companies, net of tax effect. This decrease was caused by 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 at September 30, 2012:

-    Total Assets increased by 1.4%, amounting to NIS 205.2 billion, compared to NIS 202.5 billion at the end of 2011.

-    Net Credit granted to the public increased by 2.3%, amounting to NIS 119.0 billion, compared to NIS 116.4 billion at the end of 2011.

-    Deposits from the public increased by 0.9%, amounting to NIS 154.7 billion, compared to NIS 153.4 billion at the end of 2011.

-    The Equity attributable to the Bank's Shareholders increased by 8.5%, amounting to NIS 11.6 billion, compared to NIS 10.7 billion at the end of 2011.

-    Total Equity increased by 8.4%, amounting to NIS 11.9 billion, compared to NIS 11.0 billion at the end of 2011.


Data Regarding Subsidiaries

    For the first nine months of 2012
                                                         Return on
                                                         Equity
                                                         Attributable Capital
                                               Net       to           Adequacy
                                               income    Shareholders Ratio
    Discount Bancorp Inc.                       USD 36 M         5.9%   *15.2%
    Mercantile Discount Bank                   NIS 128 M         9.8%    14.2%
    Israel Credit Cards (ICC) (the Bank holds
    71.8% of the equity)                       NIS 162 M        19.1%    16.9%


* In conformity with U.S. Reporting Standards

    For the first nine months of 2011
                                                         Return on
                                                         Equity
                                                         Attributable Capital
                                               Net       to           Adequacy
                                               Income    Shareholders Ratio
    Discount Bancorp Inc.                      USD 39 M          6.6%   *15.8%
    Mercantile Discount Bank                   NIS 132 M        10.7%    13.7%
    Israel Credit Cards (ICC) (the Bank holds
    71.8% of the equity)                       NIS 185 M        22.8%    16.2%


* 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
    71.8% of the equity)                       NIS 229 M        20.6%    16.7%


* In conformity with U.S. Reporting Standards

    Discount Group - Principal Data from the Consolidated
    Financial Statements
 
    Income and Profitability (in NIS millions)
                             Third Quarter        First Nine Months     Annual
                              2012  2011  % change  2012  2011  % change  2011
    Net interest income      1,142 1,151    (0.8)  3,393 3,509    (3.3)  4,617
    Expenses for credit
    losses                     233   226      3.1    474   526    (9.9)    778
    Total non-interest
    income                     855   629     35.9  2,462 2,245      9.7  2,930
    Total operating and
    other expenses           1,489 1,478      0.7  4,436 4,377      1.3  5,838
    Operating income after
    taxes                      197   128     53.9    645   605      6.6    817
    Net income attributable
    to the Bank's
    shareholders               221   121     82.6    633   628      0.8    848
    Net return on equity
    attributable to the
    Bank's shareholders in %   7.9   4.7             7.7   8.2             8.2


    Development of Assets and Liabilities (in NIS millions)
                                       September 30         December 31
                                    2012    2011  % change   2011   % change
    Total Assets                 205,239 198,976      3.1 202,471      1.4
    Net Credit granted to the
    public                       119,040 118,516      0.4 116,383      2.3
    Securities                    45,334  37,774     20.0  42,898      5.7
    Deposits from the public     154,688 149,197      3.7 153,368      0.9
    Equity attributable to the
    Bank's shareholders           11,612  10,448     11.1  10,701      8.5
    Total Equity                  11,942  10,752     11.1  11,020      8.4


    Principal Financial Ratios (in percentages)
                                               September 30    December 31
                                                 2012     2011        2011
    Total Equity to Total Assets                  5.8      5.4         5.4
    Ratio of capital to risk assets              14.2     13.2        14.1
    Core Capital ratio                            8.4      7.6         8.1
    Expenses for credit losses to credit
    granted to the public                        0.53     0.59        0.65
    Net Credit granted to the public, to
    total assets                                 58.0     59.6        57.5
    Net Credit granted to the public, to
    deposits from the public                     77.0     79.4        75.9
    Deposits from the public to total assets     75.4     75.0        75.7
    Total Non-Interest Income to Operating
    Expenses                                     55.5     51.3        50.2
    Operating Expenses to Total Income           75.8     76.1        77.4
    Adjusted Return on Risk Assets                8.3      8.1         8.1



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

www.discountbank.co.il

For additional details please contact:
Sarit Weiss
Spokesperson
Tel: +972-3-5145516
Mobile: +972-52-2-461151
[email protected]

SOURCE Israel Discount Bank Ltd

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applications - creating more engaging experiences for their customers and boosting collaboration and productiv...
Roberto Medrano, Executive Vice President at SOA Software, had reached 30,000 page views on his home page - http://RobertoMedrano.SYS-CON.com/ - on the SYS-CON family of online magazines, which includes Cloud Computing Journal, Internet of Things Journal, Big Data Journal, and SOA World Magazine. He is a recognized executive in the information technology fields of SOA, internet security, governance, and compliance. He has extensive experience with both start-ups and large companies, having been involved at the beginning of four IT industries: EDA, Open Systems, Computer Security and now SOA.
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
Operational Hadoop and the Lambda Architecture for Streaming Data Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, representing a model of how to analyze rea...
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes for use cases across the industrial, enterprise, and consumer segments.
SYS-CON Events announced today that Open Data Centers (ODC), a carrier-neutral colocation provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Open Data Centers is a carrier-neutral data center operator in New Jersey and New York City offering alternative connectivity options for carriers, service providers and enterprise customers.
When it comes to the Internet of Things, hooking up will get you only so far. If you want customers to commit, you need to go beyond simply connecting products. You need to use the devices themselves to transform how you engage with every customer and how you manage the entire product lifecycle. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, will show how “product relationship management” can help you leverage your connected devices and the data they generate about customer usage and product performance to deliver extremely compelling and reliabl...
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
The IoT market is projected to be $1.9 trillion tidal wave that’s bigger than the combined market for smartphones, tablets and PCs. While IoT is widely discussed, what not being talked about are the monetization opportunities that are created from ubiquitous connectivity and the ensuing avalanche of data. While we cannot foresee every service that the IoT will enable, we should future-proof operations by preparing to monetize them with extremely agile systems.
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. Learn about IoT, Big Data and deployments processing massive data volumes from wearables, utilities and other machines.
SYS-CON Events announced today that CodeFutures, a leading supplier of database performance tools, has been named a “Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. CodeFutures is an independent software vendor focused on providing tools that deliver database performance tools that increase productivity during database development and increase database performance and scalability during production.
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Intelligent Systems Services will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Established in 1994, Intelligent Systems Services Inc. is located near Washington, DC, with representatives and partners nationwide. ISS’s well-established track record is based on the continuous pursuit of excellence in designing, implementing and supporting nationwide clients’ mission-critical systems. ISS has completed many successful projects in Healthcare, Commercial, Manufacturing, ...
PubNub on Monday has announced that it is partnering with IBM to bring its sophisticated real-time data streaming and messaging capabilities to Bluemix, IBM’s cloud development platform. “Today’s app and connected devices require an always-on connection, but building a secure, scalable solution from the ground up is time consuming, resource intensive, and error-prone,” said Todd Greene, CEO of PubNub. “PubNub enables web, mobile and IoT developers building apps on IBM Bluemix to quickly add scalable realtime functionality with minimal effort and cost.”
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
With several hundred implementations of IoT-enabled solutions in the past 12 months alone, this session will focus on experience over the art of the possible. Many can only imagine the most advanced telematics platform ever deployed, supporting millions of customers, producing tens of thousands events or GBs per trip, and hundreds of TBs per month. With the ability to support a billion sensor events per second, over 30PB of warm data for analytics, and hundreds of PBs for an data analytics archive, in his session at @ThingsExpo, Jim Kaskade, Vice President and General Manager, Big Data & Ana...