Israel Discount Bank (TASE: DSCT) posted a 48% rise in its net profit to NIS 750 million in 2015. Excluding various provisions, Discount's net profit was NIS 882 million in 2015.
Net interest revenue totaled NIS 4.2 billion last year, up 0.2% in comparison with 2014. Non-interest revenue totaled NIS 3.03 billion in 2015. Discount Bank's expenses totaled NIS 5.7 billion in 2015, down from NIS 6.4 billion in 2014.
In the fourth quarter, net interest revenue totaled NIS 1.04 billion, up 0.4%.
Bank Discount posted a return on equity of 5.8% in 2015, compared with 4.7% in 2014. The bank's core capital adequacy ratio at the end of 2015 was 9.5%.
The bank shed 628 employees in 2014-2015, and it salary expense fell 4.7% in 2015 in comparison with the previous year. Discount Bank also highlights an improvement in its problem credit, down 23% at the end of 2015 in comparison with twelve months earlier.
Published by Globes [online], Israel business news - www.globes-online.com - on February 29, 2016
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