
Information and Reporing Unit, Banking Supervision Division					09/06/2004
Statement for the first quarter - consolidated
Euro-Trade Bank Ltd. 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
Summary consolidated balance sheet	31.03.2004	31.12.2003	31.03.2004	31.12.2003
Cash and deposits in banks	14	24	0.0%	0.0%
Securities	49	48	0.0%	0.0%
Credit to the public	113	119	0.0%	0.0%
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	1	2	0.0%	0.0%
Other assets	6	6	0.0%	0.0%
Total assets	184	200	0.0%	0.0%
Deposits of the public	129	148	0.0%	0.0%
Deposits of banks	3	2	0.0%	0.0%
Deposits of the government	0	0	0.0%	0.0%
Bonds and subordinated notes	2	2	0.0%	0.0%
Other liabilities	3	3	0.0%	0.0%
Total liabilities	138	155	0.0%	0.0%
Quasi-capital items	0	0	0.0%	0.0%
Minority shareholders' rights	0	0
Equity	45	45	0.1%	0.1%

Summary consolidated profit and loss statement	Three months to		Bank's share of the banking system
	Three months to		Three months to
	31.03.2004	31.03.2003	31.03.2004	31.03.2003
Net interest profit before loan-loss provision	2.2	2.5	0.0%	0.0%
Loan-loss provision	-1.0	2.3	-0.1%	0.2%
Operating and other income	0.4	0.8	0.0%	0.0%
Of which: Operating income	0.4	0.8	0.0%	0.0%
Operating and other expenses	3.3	2.6	0.1%	0.1%
Of which: Salaries and related expenses	1.3	1.1	0.0%	0.0%
Ordinary before-tax provision	0.4	-2.1	0.0%	not calculated
Provision for taxes on ordinary profit	0.0	0.0	0.0%	0.0%
Ordinary after-tax profit	0.4	-2.1	0.0%	not calculated
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	-0.1	-1.0
Net profit	0.3	-3.1	0.0%	not calculated


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	60	48	181
Balance of financial liabilities on balance-sheet date	102	17	19	138
Excess of financial assets over financial liabilities	-29	44	29	44
Total indexation balance (incl.forwards and options in term of basis assets) 2	2	44	-2	44
Rate of income on assets (percent) 3	4.83	3.35	17.60	8.13
Rate of expenditure on liabilities (percent) 3	-6.20	-2.64	-7.57	-6.43
Interest-rate differential	-1.38	0.71	10.03	1.71

Problem borrowers	31.03.2004	31.12.2003
Total credit risk dew to problem borrowers	42	41
Total credit to problem borrowers	41	41

Main financial ratios - consolidated (percent)	31.03.2004	31.12.2003
Equity/balance-sheet ratio	24.66	22.47
Finanancial capital/equity ratio	96.25	94.63
Equity/risk-weighted-assets ratio	42.19	37.52
Return on equity (net profit/gross weighted-capital ratio) 4	2.49	-23.57
Operating income/operating expenses ratio 5	13.35	24.14

^{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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