Information and Reporing Unit, Banking Supervision Division					6/8/2003
Statement for the first quarter - bank
Poalei Agudat Israel Bank Ltd., 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	1,137	1,250	1.2%	1.3%
Securities	239	159	0.2%	0.1%
Credit to the public	897	893	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	27	27	0.3%	0.3%
Other assets	6	9	0.0%	0.0%
Total assets	2,306	2,338	0.3%	0.3%
Deposits of the public	2,019	2,026	0.3%	0.3%
Deposits of banks	34	70	0.1%	0.3%
Deposits of the government	0	0	0.0%	0.0%
Bonds and subordinated notes	0	0	0.0%	0.0%
Other liabilities	24	20	0.1%	0.1%
Total liabilities	2,077	2,117	0.3%	0.3%
Quasi-capital items	0	0	0.0%	0.0%
Equity	230	222	0.5%	0.5%
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	18.6	16.3	0.5%	0.5%
Loan-loss provision	2.0	3.0	0.2%	0.4%
Operating and other income	16.9	15.8	0.8%	0.8%
Of which: Operating income	16.9	15.8	0.9%	0.9%
Operating and other expenses	18.8	16.7	0.5%	0.5%
Of which: Salaries and related expenses	8.9	7.6	0.4%	0.4%
Ordinary before-tax provision	14.7	12.4	1.2%	1.1%
Provision for taxes on ordinary profit	7.5	5.3	1.2%	1.0%
Ordinary after-tax profit	7.2	7.1	1.2%	1.2%
Bank's share in the profit of subsidiaries	0.0	0.0
Share of minority shareholders in profit of consolidated companies
Extraordinary after-tax profit	0.0	0.0
Net profit	7.2	7.1	1.2%	1.3%
Profit after the effect of the difference between the known index and the "in lieu" index	8.0	7.8	1.2%	1.1%
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	1,473	623	183	2,279
Balance of financial liabilities on balance-sheet date	1,505	388	184	2,077
Excess of financial assets over financial liabilities	-32	235	0	203
Total indexation balance (incl.forwards and options in term of basis assets) 2	-32	235	0	203
Rate of income on assets (percent) 3	7.63	3.99	-5.22	6.12
Rate of expenditure on liabilities (percent) 3	-4.94	-2.79	6.78	-3.85
Interest-rate differential	2.69	1.20	1.56	2.27
Problem borrowers	31.03.2003	31.12.2002
Total credit risk dew to problem borrowers	81.30	71.90
Total credit  to problem borrowers	81.30	64.20
Main financial ratios - consolidated (percent)	31.03.2003	31.12.2002
Equity/balance-sheet ratio	9.96	9.47
Finanancial capital/equity ratio	88.29	87.67
Equity/risk-weighted-assets ratio	18.50	17.40
Return on equity (net profit/gross weighted-capital ratio) 4	13.70	14.20
Operating income/operating expenses ratio 5	89.89	91.90
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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