Mizrahi Tefahot Bank Ltd · TASE:MZTF
Mizrahi Tefahot Bank — Q1 2024 Earnings Presentation
15 slides from Mizrahi Tefahot Bank's earnings presentation, May 2024
Slide 1: Financial statements March 31, 2024
Financial statements March 31, 2024 0
Slide 2: Disclaimer
Q1/24 Disclaimer • This document has been prepared by Mizrahi-Tefahot Bank Ltd (UMTB) solely for use at the company's presentation. The information contained in this document constitutes information from the bank's 2024 quarterly reports and/ or immediate reports, as well as the periodic, quarterly
Slide 3: Macro environment
Q1/24 Macro environment Unemployment rate)1( GDP growth Bank of Israel interest rate and inflation Known CPI – monthly change 1 year OTC inflation expectation 2.91% )4( (1) Broad Unemployment Rate (general definition of unemployed, unemployed that ceased working due to dismissal or closing of their
Slide 4: Overview of Mizrahi-Tefahot
Q1/24 Overview of Mizrahi-Tefahot Leading Israeli Bank NIS 451bn NIS 330bn NIS 365bn Total Assets1 Net Loans to the public1 Deposits from the public1 NIS 2.7bn NIS 3.6bn NIS 1.3bn Net Interest Revenue2 Total Revenue2 Net Profit2 NIS 35.0bn >7,100 206 Market Cap3 Employees4 Branches4 Significant Mark
Slide 5: Financial Highlights
Q1/24 Financial Highlights Total Assets (NISbn) Net Loans to the Public (NISbn) Deposits from the Public (NISbn) 451 4.9% 3.8% 365 Balance Sheet 5.8% 330 348 434 312 Growth Mar-23 Mar-24 Mar-23 Mar-24 Mar-23 Mar-24 Cost/Income Ratio Return on Equity 37.6% 37.7% 35.5% 22.4% Profitability 19.1% 18.1%
Slide 6: The effect of Iron Swords war events
Q1/24 The effect of Iron Swords war events • On October 7, 2023, the Iron Swords war was declared following a sudden murderous rampage into settlements close to the Gaza Strip border. This was concurrently with the start of military escalation on the Northern border. • The Bank is prepared to contin
Slide 7: Loan balance with changes to terms and conditions of debt due to the war
Q1/24 Loan balance with changes to terms and conditions of debt due to the war (NIS mil) Loan balance with changes Loan balance with changes to Loan balance with changes Total credit to this to terms and conditions of terms and conditions of debt to terms and conditions of (1) segment debt as of 31.
Slide 8: Asset quality (NIS mil)
Q1/24 Asset quality (NIS mil) Segment Q1/2024 Q4/2023 Q1/2023 Provisions / loans to the public Rate of Rate of Rate of Provision Provision Provision provision provision provision Housing loans 0.29% 22 0.04% 12 0.02% 42 0.08% Business 0.21% 109 0.46% 221 0.95% 100 0.46% Households 44 0.65% 62 0.92%
Slide 9: Profitability and efficiency
Q1/24 Profitability and efficiency Net profit (NIS mil) Return on equity Cost/income ratio 22.4% 38.7% 1,367 18.1% 1,272 37.6% 15.5% 1,047 35.5% 1 Q1/2023 Q4/2023 Q1/2024 Q1/2023 Q4/2023 Q1/2024 Q1/2023 Q4/2023 Q1/2024 8
Slide 10: Continuous loan growth
Q1/24 Continuous loan growth (NIS bil) Credit to the public(1) 330 307 325 271 Business 31.3.24 31.3.23 % change in 246 segment 194 205 Housing loans 208.1 197.8 5.2 181 221 159 171 Households + 27.0 27.3 )1.0( private banking Total individuals 235.1 225.1 4.5 (1) Total businesses 95.4 87.2 9.3 Tota
Slide 11: Continuous deposit growth (NIS bil)
Q1/24 Continuous deposit growth (NIS bil) Deposits from the public (NIS bil) Core deposits(1) (NIS bil) 221 232 234 194 206 365 359 127 137 345 96 106 114 168 308 284 211 247 199 178 184 162 Deposits by segments Segment 131.0 161.8 House holds and Private banking 36% 44% Small and micro businesses 1
Slide 12: Financing revenues from current operations
Q1/24 Financing revenues from current operations From Q4/2020 including Union Bank. NIS mil Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Interest revenues, net 3,146 3,181 2,959 2,689 2,685 Non-interest financing revenues 87 250 341 )167( 345 Total financing revenues 3,233 3,431 3,300 2,522 3,030 less: E
Slide 13: Expenses
Q1/24 Expenses Operating and other expenses (NIS mil) Salaries (NIS mil) 1,437 1,392 931 886 856 1,279 Q1/2023 2023 quarterly Q1/2024 Q1/2023 2023 quarterly Q1/2024 average average 12
Slide 14: Equity, capital adequacy and dividend
Q1/24 Equity, capital adequacy and dividend Equity (NIS mil) Leverage ratio 5.99% 5.83% 27,461 28,578 31.12.23 31.3.24 2023 Q1/2024 Capital adequacy (1) (2) Dividend (NIS mil) 1273 13.63% 1,024 995 13.36% 737 483 509 10.32% 10.60% 404 120 190 75 122 137 2010 2011 2012 2013 2014 2015 2016 2017 2018 2
Slide 15: Thank you
Thank you 14