Information and Reporing Unit, Banking Supervision Division					03/06/2002
Statement for the first quarter - consolidated
"Tefahot" Israel Mortgage Bank Ltd. 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	49	53	16.5%	5.0%
Securities	18	15	90.0%	88.2%
Credit to the public	30,401	30,203	29.4%	29.5%
Credit to the government	4	4	100.0%	100.0%
Investments in companies included on an equity basis	0	0	0.0%	0.0%
Buildings and equipment	80	80	32.7%	32.9%
Other assets	59	54	18.8%	18.8%
Total assets	30,611	30,409	29.4%	29.3%
Deposits of the public	18,458	18,756	43.9%	43.9%
Deposits of banks	8,668	8,275	17.1%	16.6%
Deposits of the government	177	190	13.4%	12.7%
Bonds and subordinated notes	1,401	1,313	37.6%	35.6%
Other liabilities	168	180	34.9%	39.9%
Total liabilities	28,872	28,714	29.4%	29.2%
Quasi-capital items	0	0	0.0%	0.0%
Minority shareholders' rights	0	0	0.0%	0.0%
Equity	1,739	1,695	29.9%	29.9%
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	88.0	78.0	34.5%	32.3%
Loan-loss provision	22.0	18.0	37.4%	31.9%
Operating and other income	79.0	78.0	36.0%	38.7%
Of which: Operating income	75.0	74.0	34.9%	37.4%
Operating and other expenses	58.0	58.0	34.3%	33.2%
Of which: Salaries and related expenses	34.0	34.0	38.4%	34.1%
Ordinary before-tax provision	87.0	80.0	35.3%	37.8%
Provision for taxes on ordinary profit	43.0	36.0	37.3%	35.4%
Ordinary after-tax profit	44.0	44.0	33.5%	39.9%
Bank's share in the profit of subsidiaries	0.0	0.0
Share of minority shareholders in profit of consolidated companies	0.0	0.0
Extraordinary after-tax profit	0.0	0.0
Net profit	44.0	44.0	33.7%	40.2%
Profit after the effect of the difference between the known index and the "in lieu" index	55.0	49.0	34.0%	39.0%
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	2,118	27,038	1,374	30,530
Balance of financial liabilities on balance-sheet date	2,325	25,148	1,373	28,846
Excess of financial assets over financial liabilities	-207	1,890	1	1,684
Additional information on the CPI-indexed sector for the three months to 31.03.2002	Average balance for three months	Net three monthly interest income (expenses)		Rate of income  (expenditure) (2)
Total financial assets	26,952	239.0		3.59
Total financial liabilities	25,426	-176.0		-2.80
Interest-rate differential				0.79
Problem borrowers	31.03.2002	31.12.2001
Total credit risk dew to problem borrowers	1604.00	1570.00
Total credit  to problem borrowers	1388.00	1367.00
Main financial ratios - consolidated (percent)	31.03.2002	31.12.2001
Equity/balance-sheet ratio	5.68	5.57
Finanancial capital/equity ratio	96.84	96.52
Equity/risk-weighted-assets ratio	10.03	9.86
Return on equity (net profit/gross weighted-capital ratio) (4)	10.80	13.00
Operating income/operating expenses ratio (5)	136.21	132.49
1 Including foreign-currency indexed NIS.
2 Three-month rate of income (expenses), on annual basis including ALM derivatives.
3 Annual basis.
4 For three months. Comparative data are annual.
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