Bank Leumi reports a 30% Q3 net income jump to $620 million, despite rising credit losses.

Bank Leumi, Israel's largest bank, reported a 30% jump in Q3 net income to NIS 2.3 billion ($620 million), up from NIS 1.8 billion ($485 million) last year. The bank's return on equity rose to 15.5%, and it plans to distribute 40% of its third-quarter profit as dividends and share buybacks. Despite an increase in credit loss provisions, the bank's loan portfolio grew 7.1%, with mortgages up 10%. Bank Leumi also provided financial support to customers during the ongoing conflict.

November 19, 2024
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