Information and Reporing Unit, Banking Supervision Division					03/06/2002
Statement for the first quarter - consolidated
Bank Hapoalim B.M and its subsidiaries, Main data, NIS million
Taken from the quarterly report to 31.03.2002. Adjusted to the CPI for  03.2002.
Summary consolidated balance sheet	31.03.2002	31.12.2001	Bank's share of the banking system
			31.03.2002	31.12.2001
Cash and deposits in banks	28,493	29,217	29.6%	25.4%
Securities	20,718	21,144	20.6%	20.8%
Credit to the public	181,376	180,322	32.2%	32.3%
Credit to the government	5,761	5,969	62.1%	64.9%
Investments in companies included on an equity basis	1,215	1,222	29.6%	29.3%
Buildings and equipment	3,480	3,506	35.2%	35.4%
Other assets	5,107	4,545	28.7%	26.5%
Total assets	246,150	245,925	30.7%	30.1%
Deposits of the public	195,267	196,431	29.7%	29.0%
Deposits of banks	8,375	7,966	35.5%	37.2%
Deposits of the government	5,731	6,192	30.2%	31.8%
Bonds and subordinated notes	16,834	16,111	46.5%	46.6%
Other liabilities	6,470	5,968	28.8%	27.7%
Total liabilities	232,677	232,668	30.7%	30.1%
Quasi-capital items	0	0	0.0%	0.0%
Minority shareholders' rights	505	513
Equity	12,968	12,744	32.2%	31.6%
Summary consolidated profit and loss statement	Three months to		Bank's share of the banking system
			Three months to
	31.03.2002	31.03.2001	31.03.2002	31.03.2001
Net interest profit before loan-loss provision	1,268.0	1,458.0	30.9%	34.1%
Loan-loss provision	311.0	164.0	23.2%	24.7%
Operating and other income	865.0	833.0	34.2%	34.5%
Of which: Operating income	696.0	689.0	32.7%	34.2%
Operating and other expenses	1,377.0	1,419.0	32.1%	31.0%
Of which: Salaries and related expenses	837.0	894.0	31.4%	29.9%
Ordinary before-tax provision	445.0	708.0	44.0%	48.5%
Provision for taxes on ordinary profit	228.0	280.0	40.6%	38.2%
Ordinary after-tax profit	217.0	428.0	48.3%	58.9%
Bank's share in the profit of subsidiaries	-10.0	-111.0
Share of minority shareholders in profit of consolidated companies	-1.0	-7.0
Extraordinary after-tax profit	6.0	-3.0
Net profit	212.0	307.0	53.1%	48.7%
Profit after the effect of the difference between the known index and the "in lieu" index	250.0	319.0	45.6%	46.0%
Balances and rates of return on financial items by indexation base on 31.03.2002	Unindexed NIS	CPI-indexed  NIS	Foreign Currency (1)	Total financial items
Balance of financial assets on balance-sheet date	66,476	69,863	104,450	240,789
Balance of financial liabilities on balance-sheet date	79,648	56,546	96,231	232,425
Excess of financial assets over financial liabilities	-13,172	13,317	8,219	8,364
Total indexation balance (incl.forwards and options in term of basis assets) 2	-4,917	12,047	1,234	8,364
Rate of income on assets (percent) 3	-3.41	3.41	15.57	6.08
Rate of expenditure on liabilities (percent) 3	6.19	-2.37	-14.49	-4.10
Interest-rate differential	2.78	1.05	1.08	1.97
Problem borrowers	31.03.2002	31.12.2001
Total credit risk dew to problem borrowers	18,449.00	16,773.00
Total credit  to problem borrowers	16,800.00	15,382.00
Main financial ratios - consolidated (percent)	31.03.2002	31.12.2001
Equity/balance-sheet ratio	5.27	5.18
Finanancial capital/equity ratio	64.50	63.11
Equity/risk-weighted-assets ratio	9.70	9.10
Return on equity (net profit/gross weighted-capital ratio) 4	6.80	7.60
Operating income/operating expenses ratio 5	62.82	59.22
1 Including foreign-currency indexed NIS.
2 Forwards transactions.
3 Three-month rate of income (expenses), on annual basis including ALM derivatives.
4 Annual basis.
5 For three months. Comparative data are annual.
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