Information and Reporing Unit, Banking Supervision Division					6/8/2003
Statement for the first quarter - consolidated
Bank Leumi Le-Israel B.M. and its subsidiaries, Main data, NIS million
Taken from the quarterly report to 31.03.2003. Adjusted to the CPI for  03.2003.
Summary consolidated balance sheet	31.03.2003	31.12.2002	Bank's share of the banking system
			31.03.2003	31.12.2002
Cash and deposits in banks	22,574	24,417	23.2%	24.9%
Securities	38,708	37,125	33.2%	32.3%
Credit to the public	173,539	176,427	29.8%	29.8%
Credit to the government	1,387	1,464	18.0%	18.1%
Investments in companies included on an equity basis	1,402	1,387	39.2%	37.4%
Buildings and equipment	2,643	2,621	24.7%	24.7%
Other assets	6,385	6,694	29.8%	31.4%
Total assets	246,638	250,135	29.4%	29.5%
Deposits of the public	206,600	210,570	30.0%	30.1%
Deposits of banks	3,893	3,771	16.3%	16.5%
Deposits of the government	2,877	3,012	15.8%	16.1%
Bonds and subordinated notes	10,800	10,503	28.1%	27.9%
Other liabilities	8,458	8,351	32.1%	33.3%
Total liabilities	232,628	236,207	29.2%	29.4%
Quasi-capital items	0	0	0.0%	0.0%
Minority shareholders' rights	269	424
Equity	13,741	13,504	32.6%	32.6%
Summary consolidated profit and loss statement	Three months to		Bank's share of the banking system
			Three months to
	31.03.2003	31.03.2002	31.03.2003	31.03.2002
Net interest profit before loan-loss provision	1,439.0	1,331.0	36.2%	41.6%
Loan-loss provision	375.0	370.0	33.7%	45.8%
Operating and other income	734.0	780.0	34.5%	38.4%
Of which: Operating income	617.0	638.0	34.0%	37.9%
Operating and other expenses	1,449.0	1,295.0	38.6%	39.4%
Of which: Salaries and related expenses	932.0	828.0	40.3%	40.3%
Ordinary before-tax provision	349.0	446.0	28.3%	39.3%
Provision for taxes on ordinary profit	205.0	189.0	31.9%	35.5%
Ordinary after-tax profit	144.0	257.0	24.3%	42.6%
Bank's share in the profit of subsidiaries	36.0	-12.0
Share of minority shareholders in profit of consolidated companies	-1.0	-14.0
Extraordinary after-tax profit	-3.0	-1.0
Net profit	176.0	230.0	30.1%	40.9%
Profit after the effect of the difference between the known index and the "in lieu" index	211.0	283.0	30.4%	41.6%
Balances and rates of return on financial items by indexation base on 31.03.2003	Unindexed NIS	CPI-indexed  NIS	Foreign Currency (1)	Total financial items
Balance of financial assets on balance-sheet date	70,122	63,533	107,210	240,865
Balance of financial liabilities on balance-sheet date	76,800	55,606	99,368	231,774
Excess of financial assets over financial liabilities	-6,678	7,927	7,842	9,091
Total indexation balance (incl.forwards and options in term of basis assets) 2	-145	7,497	1,739	9,091
Rate of income on assets (percent) 3	7.02	3.82	-0.28	2.50
Rate of expenditure on liabilities (percent) 3	-3.91	-2.73	1.32	-0.86
Interest-rate differential	3.11	1.09	1.05	1.64
Problem borrowers	31.03.2003	31.12.2002
Total credit risk dew to problem borrowers	19,290.00	18,961.00
Total credit  to problem borrowers	17,113.00	17,043.00
Main financial ratios - consolidated (percent)	31.03.2003	31.12.2002
Equity/balance-sheet ratio	5.57	5.40
Finanancial capital/equity ratio	66.16	67.05
Equity/risk-weighted-assets ratio	10.80	10.30
Return on equity (net profit/gross weighted-capital ratio) 4	5.30	3.30
Operating income/operating expenses ratio 5	50.66	55.14
1 Including foreign-currency indexed NIS.
2 Forwards transactions.
3 Three-month rate of income (expenses), on annual basis including hedging, embedded and ALM derivatives.
4 Annual basis.
5 For three months. Comparative data are annual.
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