Information and Reporing Unit, Banking Supervision Division					09/06/2004
Statement for the first quarter - bank
Poalei Agudat Israel Bank Ltd.  , 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	1,897	1,352	2.0%	1.3%
Securities	337	151	0.3%	0.1%
Credit to the public	844	886	0.1%	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	26	26	0.2%	0.2%
Other assets	9	8	0.0%	0.0%
Total assets	3,112	2,423	0.4%	0.3%
Deposits of the public	2,145	2,108	0.3%	0.3%
Deposits of banks	690	46	2.7%	0.2%
Deposits of the government	0	0	0.0%	0.0%
Bonds and subordinated notes	0	0	0.0%	0.0%
Other liabilities	35	23	0.1%	0.1%
Total liabilities	2,869	2,177	0.4%	0.3%
Quasi-capital items	0	0	0.0%	0.0%
Minority shareholders' rights	0	0
Equity	243	245	0.5%	0.6%
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	19.9	20.2	0.4%	0.4%
Loan-loss provision	2.6	2.0	0.2%	0.1%
Operating and other income	18.5	16.9	0.6%	0.7%
Of which: Operating income	18.5	16.9	0.8%	0.8%
Operating and other expenses	24.0	19.0	0.5%	0.4%
Of which: Salaries and related expenses	10.0	9.0	0.3%	0.3%
Ordinary before-tax provision	11.8	14.2	0.6%	1.0%
Provision for taxes on ordinary profit	6.3	7.3	0.8%	1.0%
Ordinary after-tax profit	5.5	6.9	0.5%	1.1%
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	5.5	6.9	0.4%	1.2%
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	2,436	451	199	3,087
Balance of financial liabilities on balance-sheet date	2,309	362	199	2,869
Excess of financial assets over financial liabilities	128	89	0	217
Total indexation balance (incl.forwards and options in term of basis assets) 2	128	89	0	217
Rate of income on assets (percent) 3	6.96	4.70	15.67	7.25
Rate of expenditure on liabilities (percent) 3	-3.83	-4.17	-13.35	-4.76
Interest-rate differential	3.13	0.53	2.32	2.49
Problem borrowers	31.03.2004	31.12.2003
Total credit risk dew to problem borrowers	106	108
Total credit  to problem borrowers	106	108
Main financial ratios - consolidated (percent)	31.03.2004	31.12.2003
Equity/balance-sheet ratio	7.80	10.13
Finanancial capital/equity ratio	89.49	89.44
Equity/risk-weighted-assets ratio	18.60	19.10
Return on equity (net profit/gross weighted-capital ratio) 4	9.30	13.00
Operating income/operating expenses ratio 5	77.08	87.45
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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