Information and Reporing Unit, Banking Supervision Division					09/09/2002
Statement for the second quarter - bank
Bank Massad Ltd., Main data, NIS million
Taken from the quarterly report to 30.06.2002. Adjusted to the CPI for  06.2002.
Summary consolidated balance sheet	30.06.2002	31.12.2001	Bank's share of the banking system
			30.06.2002	31.12.2001
Cash and deposits in banks	686	1,153	0.7%	1.0%
Securities	805	732	0.7%	0.7%
Credit to the public	922	892	0.2%	0.2%
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	64	64	0.6%	0.6%
Other assets	27	17	0.1%	0.1%
Total assets	2,503	2,858	0.3%	0.3%
Deposits of the public	2,270	2,382	0.3%	0.3%
Deposits of banks	36	251	0.2%	1.1%
Deposits of the government	0	0	0.0%	0.0%
Bonds and subordinated notes	0	0	0.0%	0.0%
Other liabilities	15	31	0.1%	0.1%
Total liabilities	2,321	2,664	0.3%	0.3%
Quasi-capital items	0	0	0.0%	0.0%
Equity	182	194	0.4%	0.5%
Summary consolidated profit and loss statement	Six months to		Bank's share of the banking system		Three months to
			Six months to
	30.06.2002	30.06.2001	30.06.2002	30.06.2001	30.06.2002
Net interest profit before loan-loss provision	17.0	52.7	0.0%	0.6%	5.0
Loan-loss provision	2.6	4.3	0.0%	0.3%	1.0
Operating and other income	30.3	28.8	0.0%	0.6%	14.9
Of which: Operating income	22.5	22.2	0.0%	0.5%	11.2
Operating and other expenses	47.9	61.2	0.0%	0.7%	24.9
Of which: Salaries and related expenses	24.8	34.2	0.0%	0.6%	13.0
Ordinary before-tax provision	-3.2	16.0	0.0%	0.4%	-6.0
Provision for taxes on ordinary profit	-1.4	7.8	0.0%	0.4%	-2.4
Ordinary after-tax profit	-1.8	8.2	0.0%	0.5%	-3.6
Bank's share in the profit of subsidiaries	0.0	0.0			0.0
Share of minority shareholders in profit of consolidated companies					0.0
Extraordinary after-tax profit	0.0	0.0			0.0
Net profit	-1.8	8.2	0.0%	0.5%	-3.6
Profit after the effect of the difference between the known index and the "in lieu" index	-0.4	8.5	0.0%	0.5%
Balances and rates of return on financial items by indexation base on 30.06.2002	Unindexed NIS	CPI-indexed  NIS	Foreign Currency (1)	Total financial items
Balance of financial assets on balance-sheet date	1,178	1,018	244	2,439
Balance of financial liabilities on balance-sheet date	1,141	958	223	2,321
Excess of financial assets over financial liabilities	37	60	21	118
Total indexation balance (incl.forwards and options in term of basis assets) 2	17	80	21	118
Rate of income on assets (percent) 3	-6.78	2.33	6.59	-1.93
Rate of expenditure on liabilities (percent) 3	10.08	-0.96	-4.63	4.42
Interest-rate differential	3.30	1.37	1.96	2.49
Problem borrowers	30.06.2002	31.12.2001
Total credit risk dew to problem borrowers	118	127
Total credit  to problem borrowers	117	126
Main financial ratios - consolidated (percent)	30.06.2002	31.12.2001
Equity/balance-sheet ratio	7.27	6.78
Finanancial capital/equity ratio	64.93	67.11
Equity/risk-weighted-assets ratio	12.65	14.41
Return on equity (net profit/gross weighted-capital ratio) 4	-1.90	11.30
Operating income/operating expenses ratio 5	63.26	54.41
1 Including foreign-currency indexed NIS.
2 Forwards transactions.
3 Six-month rate of income (expenses), on annual basis including ALM derivatives.
4 Annual basis.
5 For six months. Comparative data are annual.
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