Information and Reporing Unit, Banking Supervision Division					03/06/2002
Statement for the first quarter - bank
Bank Polska Kasa Opieki Tel Aviv (Bank Pekao) Ltd., 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	85	89	0.1%	0.1%
Securities	2	2	0.0%	0.0%
Credit to the public	174	173	0.0%	0.0%
Credit to the government	0	0	0.0%	0.0%
Investments in companies included on an equity basis	0	0	0.0%	0.0%
Buildings and equipment	11	10	0.1%	0.1%
Other assets	0	0	0.0%	0.0%
Total assets	272	274	0.0%	0.0%
Deposits of the public	121	121	0.0%	0.0%
Deposits of banks	78	77	0.3%	0.4%
Deposits of the government	0	0	0.0%	0.0%
Bonds and subordinated notes	0	0	0.0%	0.0%
Other liabilities	6	6	0.0%	0.0%
Total liabilities	204	204	0.0%	0.0%
Quasi-capital items	0	0	0.0%	0.0%
Equity	68	70	0.2%	0.2%
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	5.9	5.9	0.1%	0.1%
Loan-loss provision	5.6	3.1	0.4%	0.5%
Operating and other income	1.0	1.6	0.0%	0.1%
Of which: Operating income	0.9	0.9	0.0%	0.0%
Operating and other expenses	3.0	3.8	0.1%	0.1%
Of which: Salaries and related expenses	1.6	2.3	0.1%	0.1%
Ordinary before-tax provision	-1.7	0.6	-0.2%	0.0%
Provision for taxes on ordinary profit	-0.4	0.0	-0.1%	0.0%
Ordinary after-tax profit	-1.3	0.6	-0.3%	0.1%
Bank's share in the profit of subsidiaries	0.0	0.0
Share of minority shareholders in profit of consolidated companies
Extraordinary after-tax profit	0.0	0.0
Net profit	-1.3	0.6	-0.3%	0.1%
Profit after the effect of the difference between the known index and the "in lieu" index	-1.3	0.6	-0.2%	0.1%
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	97	0	165	262
Balance of financial liabilities on balance-sheet date	37	0	167	204
Excess of financial assets over financial liabilities	59	0	-2	58
Total indexation balance (incl.forwards and options in term of basis assets) 2	59	0	-2	58
Rate of income on assets (percent) 3	-4.07	0.00	31.25	17.49
Rate of expenditure on liabilities (percent) 3	6.38	0.00	-14.18	-10.88
Interest-rate differential	2.30	0.00	17.07	6.62
Problem borrowers	31.03.2002	31.12.2001
Total credit risk dew to problem borrowers	37.90	41.50
Total credit  to problem borrowers	35.70	39.20
Main financial ratios - consolidated (percent)	31.03.2002	31.12.2001
Equity/balance-sheet ratio	25.05	25.38
Finanancial capital/equity ratio	84.46	85.32
Equity/risk-weighted-assets ratio	55.19	54.80
Return on equity (net profit/gross weighted-capital ratio) 4	0.00	0.00
Operating income/operating expenses ratio 5	33.33	37.59
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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