Information and Reporing Unit, Banking Supervision Division					6/8/2003
Statement for the first quarter - consolidated
Investec  Bank (Israel) 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	3,169	2,696	3.3%	2.7%
Securities	1,048	1,238	0.9%	1.1%
Credit to the public	1,427	1,658	0.2%	0.3%
Credit to the government	47	48	0.6%	0.6%
Investments in companies included on an equity basis	3	3	0.1%	0.1%
Buildings and equipment	114	115	1.1%	1.1%
Other assets	175	262	0.8%	1.2%
Total assets	5,983	6,020	0.7%	0.7%
Deposits of the public	5,175	5,340	0.8%	0.8%
Deposits of banks	81	30	0.3%	0.1%
Deposits of the government	0	0	0.0%	0.0%
Bonds and subordinated notes	0	0	0.0%	0.0%
Other liabilities	209	141	0.8%	0.6%
Total liabilities	5,465	5,511	0.7%	0.7%
Quasi-capital items	0	0	0.0%	0.0%
Minority shareholders' rights	0	0
Equity	518	509	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	17.2	27.9	0.4%	0.9%
Loan-loss provision	0.2	7.8	0.0%	1.0%
Operating and other income	17.6	21.2	0.8%	1.0%
Of which: Operating income	16.6	20.5	0.9%	1.2%
Operating and other expenses	32.2	34.4	0.9%	1.0%
Of which: Salaries and related expenses	15.7	18.4	0.7%	0.9%
Ordinary before-tax provision	2.4	6.9	0.2%	0.6%
Provision for taxes on ordinary profit	2.1	1.9	0.3%	0.4%
Ordinary after-tax profit	0.3	5.0	0.1%	0.8%
Bank's share in the profit of subsidiaries	-0.1	-0.1
Share of minority shareholders in profit of consolidated companies	0.0	0.0
Extraordinary after-tax profit	0.6	0.0
Net profit	0.8	4.9	0.1%	0.9%
Profit after the effect of the difference between the known index and the "in lieu" index	2.6	6.9	0.4%	1.0%
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	2,988	511	2,265	5,764
Balance of financial liabilities on balance-sheet date	3,031	122	2,216	5,368
Excess of financial assets over financial liabilities	-43	390	49	397
Total indexation balance (incl.forwards and options in term of basis assets) 2	6	390	1	397
Rate of income on assets (percent) 3	5.07	2.82	-2.67	1.09
Rate of expenditure on liabilities (percent) 3	-4.27	-2.01	3.49	-0.15
Interest-rate differential	0.80	0.82	0.82	0.94
Problem borrowers	31.03.2003	31.12.2002
Total credit risk dew to problem borrowers	137.70	140.80
Total credit  to problem borrowers	135.80	138.50
Main financial ratios - consolidated (percent)	31.03.2003	31.12.2002
Equity/balance-sheet ratio	8.66	8.46
Finanancial capital/equity ratio	76.52	75.82
Equity/risk-weighted-assets ratio	20.90	20.80
Return on equity (net profit/gross weighted-capital ratio) 4	0.60	2.28
Operating income/operating expenses ratio 5	54.66	58.18
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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