Leumi Mortgage Bank doubled its net profit to NIS 86 million for the third quarter of 2012.
Bank Leumi (TASE: LUMI) unit Leumi Mortgage Bank doubled its net profit to NIS 86 million for the third quarter of 2012 from NIS 43 million for the corresponding quarter of 2011. Net financing income after deducting the provision for credit losses rose to NIS 171 million for the third quarter from NIS 112 million for the corresponding quarter.
Credit to the public, net of credit losses, rose to NIS 61.2 billion at the end of September from NIS 55.9 billion a year earlier. The provision for credit losses declined to NIS 467 million at the end of September from NIS 547 million a year earlier.
Leumi Mortgage Bank return on capital was an annualized 11.4% in January-September.
Published by Globes [online], Israel business news - www.globes-online.com - on November 14, 2012
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