BREAKING NEWS

Discount Bank posts NIS 288m. third quarter profit

Israel Discount Bank, headed by Giora Offer, who will leave his post at the end of the year, released its third quarter results Monday morning. The bank posted a net profit of NIS 288 million for the quarter, representing a return on equity of 11.3 percent. In the corresponding quarter of 2009, the bank posted a profit of NIS 299 million.
Quarterly revenue from financing activities rose 0.4% to NIS 1.33 billion, while provisions for doubtful debts fell by 31.3%, to NIS 169 million.At the end of the third quarter, Discount Bank's shareholders' equity was NIS 10.8 billion, and its overall capital adequacy ratio was 12.93%.
In the first nine months of 2010, the bank's net profit totaled NIS 589 million, representing a return on equity of 7.7%.
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