Information and Reporing Unit, Banking Supervision Division					03/06/2002
Statement for the first quarter - consolidated
Mishkan Bank Hapoalim Lemashkantaot 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	16	11	5.4%	1.0%
Securities	1	1	5.0%	5.9%
Credit to the public	25,213	24,925	24.4%	24.4%
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	83	83	34.0%	34.2%
Other assets	22	26	7.0%	9.1%
Total assets	25,335	25,046	24.3%	24.1%
Deposits of the public	10,322	10,381	24.6%	24.3%
Deposits of banks	12,444	12,088	24.5%	24.3%
Deposits of the government	488	520	37.0%	34.8%
Bonds and subordinated notes	594	623	15.9%	16.9%
Other liabilities	115	104	23.9%	23.0%
Total liabilities	23,963	23,716	24.4%	24.2%
Quasi-capital items	0	0	0.0%	0.0%
Minority shareholders' rights	0	0	0.0%	0.0%
Equity	1,372	1,330	23.6%	23.4%
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	68.0	48.0	26.7%	19.9%
Loan-loss provision	11.0	16.0	18.7%	28.4%
Operating and other income	54.0	52.0	24.6%	25.8%
Of which: Operating income	54.0	52.0	25.2%	26.3%
Operating and other expenses	40.0	42.0	23.6%	24.0%
Of which: Salaries and related expenses	19.0	22.0	21.4%	22.0%
Ordinary before-tax provision	71.0	42.0	28.8%	19.8%
Provision for taxes on ordinary profit	29.0	21.0	25.1%	20.6%
Ordinary after-tax profit	42.0	21.0	32.0%	19.1%
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	42.0	21.0	32.2%	19.2%
Profit after the effect of the difference between the known index and the "in lieu" index	50.0	25.0	30.9%	19.9%
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	525	24,313	410	25,248
Balance of financial liabilities on balance-sheet date	997	22,573	386	23,956
Excess of financial assets over financial liabilities	-472	1,740	24	1,292
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	24,258	198.1		3.31
Total financial liabilities	22,499	-146.7		-2.63
Interest-rate differential				0.68
Problem borrowers	31.03.2002	31.12.2001
Total credit risk dew to problem borrowers	791.00	806.00
Total credit  to problem borrowers	791.00	806.00
Main financial ratios - consolidated (percent)	31.03.2002	31.12.2001
Equity/balance-sheet ratio	5.42	5.31
Finanancial capital/equity ratio	94.17	93.61
Equity/risk-weighted-assets ratio	9.41	9.40
Return on equity (net profit/gross weighted-capital ratio) (4)	13.50	11.10
Operating income/operating expenses ratio (5)	135.00	125.61
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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