Information and Reporing Unit, Banking Supervision Division					6/8/2003
Statement for the first quarter - consolidated
Otsar Hahayal Bank Ltd. 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	1,843	1,616	1.9%	1.6%
Securities	524	407	0.4%	0.4%
Credit to the public	6,540	6,649	1.1%	1.1%
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	132	130	1.2%	1.2%
Other assets	57	71	0.3%	0.3%
Total assets	9,095	8,873	1.1%	1.0%
Deposits of the public	8,076	7,883	1.2%	1.1%
Deposits of banks	25	38	0.1%	0.2%
Deposits of the government	18	23	0.1%	0.1%
Bonds and subordinated notes	346	315	0.9%	0.8%
Other liabilities	127	132	0.5%	0.5%
Total liabilities	8,590	8,389	1.1%	1.0%
Quasi-capital items	0	0	0.0%	0.0%
Minority shareholders' rights	1	1
Equity	505	484	1.2%	1.2%
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	75.3	54.6	1.9%	1.7%
Loan-loss provision	6.0	5.1	0.5%	0.6%
Operating and other income	39.2	43.1	1.8%	2.1%
Of which: Operating income	35.2	37.6	1.9%	2.2%
Operating and other expenses	76.4	78.9	2.0%	2.4%
Of which: Salaries and related expenses	42.9	46.6	1.9%	2.3%
Ordinary before-tax provision	32.1	13.7	2.6%	1.2%
Provision for taxes on ordinary profit	16.2	5.4	2.5%	1.0%
Ordinary after-tax profit	15.9	8.3	2.7%	1.4%
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	15.9	8.3	2.7%	1.5%
Profit after the effect of the difference between the known index and the "in lieu" index	17.1	10.6	2.5%	1.6%
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	4,955	2,617	1,388	8,959
Balance of financial liabilities on balance-sheet date	5,016	2,511	1,059	8,585
Excess of financial assets over financial liabilities	-61	106	329	374
Total indexation balance (incl.forwards and options in term of basis assets) 2	112	230	32	374
Rate of income on assets (percent) 3	7.62	2.44	-2.79	4.57
Rate of expenditure on liabilities (percent) 3	-4.02	-0.72	3.92	-1.82
Interest-rate differential	3.61	1.72	1.13	2.75
Problem borrowers	31.03.2003	31.12.2002
Total credit risk dew to problem borrowers	451.40	487.20
Total credit  to problem borrowers	427.40	463.40
Main financial ratios - consolidated (percent)	31.03.2003	31.12.2002
Equity/balance-sheet ratio	5.55	5.45
Finanancial capital/equity ratio	74.08	73.82
Equity/risk-weighted-assets ratio	10.32	9.80
Return on equity (net profit/gross weighted-capital ratio) 4	13.86	5.44
Operating income/operating expenses ratio 5	51.31	52.15
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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