Information and Reporing Unit, Banking Supervision Division					09/06/2004
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 31.03.2004, reported amounts at 31.03.2004 (2003  in adjusted amounts).
Summary consolidated balance sheet	31.03.2004	31.12.2003	Bank's share of the banking system
			31.03.2004	31.12.2003
Cash and deposits in banks	24,743	23,763	25.8%	23.4%
Securities	40,530	40,262	31.9%	33.2%
Credit to the public	168,479	169,151	29.6%	29.8%
Credit to the government	1,104	1,129	20.3%	19.8%
Investments in companies included on an equity basis	1,424	1,361	38.7%	37.8%
Buildings and equipment	2,619	2,612	24.6%	24.5%
Other assets	7,249	8,307	33.8%	34.3%
Total assets	246,148	246,585	29.5%	29.5%
Deposits of the public	202,180	203,586	29.9%	29.9%
Deposits of banks	5,498	4,557	21.4%	18.8%
Deposits of the government	3,114	2,903	18.5%	17.1%
Bonds and subordinated notes	10,662	10,613	26.6%	27.3%
Other liabilities	9,873	10,455	35.7%	36.6%
Total liabilities	231,327	232,114	29.4%	29.4%
Quasi-capital items	0	0	0.0%	0.0%
Minority shareholders' rights	262	258
Equity	14,559	14,213	32.4%	32.2%
Summary consolidated profit and loss statement	Three months to		Bank's share of the banking system
			Three months to
	31.03.2004	31.03.2003	31.03.2004	31.03.2003
Net interest profit before loan-loss provision	1,545.0	1,524.0	30.7%	30.3%
Loan-loss provision	401.0	382.0	33.0%	28.5%
Operating and other income	845.0	734.0	27.9%	28.5%
Of which: Operating income	691.0	617.0	28.3%	28.6%
Operating and other expenses	1,360.0	1,465.0	27.3%	31.1%
Of which: Salaries and related expenses	834.0	952.0	26.9%	32.4%
Ordinary before-tax provision	629.0	339.0	33.5%	24.9%
Provision for taxes on ordinary profit	224.0	199.0	28.1%	26.5%
Ordinary after-tax profit	405.0	140.0	37.6%	23.0%
Bank's share in the profit of subsidiaries	61.0	35.0
Share of minority shareholders in profit of consolidated companies	-3.0	-1.0
Extraordinary after-tax profit	-2.0	-3.0
Net profit	461.0	171.0	36.4%	30.0%
Balances and rates of return on financial items by indexation base on 31.03.2004	Unindexed NIS	CPI-indexed  NIS	Foreign Currency (1)	Total financial items
Balance of financial assets on balance-sheet date	73,480	57,253	108,672	239,405
Balance of financial liabilities on balance-sheet date	75,951	51,100	102,920	229,971
Excess of financial assets over financial liabilities	-2,471	6,153	5,752	9,434
Total indexation balance (incl.forwards and options in term of basis assets) 2	3,755	4,618	1,061	9,434
Rate of income on assets (percent) 3	6.69	5.23	13.54	10.01
Rate of expenditure on liabilities (percent) 3	-3.47	-4.22	-12.30	-8.39
Interest-rate differential	3.22	1.01	1.24	1.61
Problem borrowers	31.03.2004	31.12.2003
Total credit risk dew to problem borrowers	19,010	18,282
Total credit  to problem borrowers	17,112	16,502
Main financial ratios - consolidated (percent)	31.03.2004	31.12.2003
Equity/balance-sheet ratio	5.91	5.76
Finanancial capital/equity ratio	64.80	63.90
Equity/risk-weighted-assets ratio	10.80	10.80
Return on equity (net profit/gross weighted-capital ratio) 4	13.60	8.70
Operating income/operating expenses ratio 5	62.13	57.23
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.
					5