Mizrahi Tefahot Bank Ltd · TASE:MZTF
Mizrahi Tefahot Bank — Q3 2021 Earnings Presentation
14 slides from Mizrahi Tefahot Bank's earnings presentation, November 2021
Slide 1: Q3/21 Financial statements
COO Financial statements | coumtTs
Slide 2: Disclaimer
Q3/21 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 2021 quarterly reports and/ or immediate reports, as well as the periodic, quarterly
Slide 3: Macro environment
Q3/21 Macro environment 36.1% Unemployment rate)1()2( GDP growth)1( 23.0% 21.2% 20.3% 18.0% 16.7% 14.3% 14.2% 12.9% 11.9% 11.8% 11.5% 11.3% 10.6% 9.8% 9.0% 8.4% 8.0% 7.9% 7.1% 7.1% 5.2% 3.7% 3.4% Jun-20 Nov-20 Dec-20 Jun-21 2022F Jul-20 Jul-21 Oct-20 Oct-21 Feb-20 Apr-20 Sep-20 Feb-21 Apr-21 Sep-21
Slide 4: Overview of Mizrahi-Tefahot
Q3/21 Overview of Mizrahi-Tefahot Leading Israeli Bank NIS 380bn NIS 260bn NIS 304bn Total Assets1 Net Loans to the public1 Deposits from the public1 NIS 5.7bn NIS 7.7bn NIS 2.5bn Net Interest Revenue2 Total Revenue2 Net Profit2 NIS 28.7bn >7,500 197 Market Cap3 Employees4 Branches4,5 Significant Ma
Slide 5: Financial Highlights
Q3/21 Financial Highlights Total Assets (NISbn) Net Loans to the Public (NISbn) Deposits from the Public (NISbn) 380 304 (1) (1) 284 Balance Sheet 7.3% 7.8% 260 9.3% (1) 360 246 Growth Dec-20 Sep-21 Dec-20 Sep-21 Dec-20 Sep-21 Cost/Income Ratio Return on Equity 53.9% 17.1% 52.0% 52.2% 9.0% 9.5% Prof
Slide 6: Asset quality
Q3/21 Asset quality Provisions / loans to the public Segment 1-9/2021 2020 Rate of Rate of 0.43% Provision Provision provision provision Housing loans )92( )0.07%( 279 0.18% Business )137( )0.28%( 635 0.99% Households )34( )0.18%( 136 0.53% Total )263( (1) )0.13%( 1,050 0.43% 2020 1-9/2021 (0.13%) (
Slide 7: Credit deferrals
Q3/21 Credit deferrals Balance of the mortgage 74.1% portfolio, 30.09.21 25.9% 168.9 21.7 % 4.2% DidDid notnot request requestdeferral 125.2 deferral 113.9 Requested Requesteddeferral 43.7 deferral 45.8 Returned to orderly full repayment 36.6 0.1% Have not yet returned to orderly full repayment 7.1
Slide 8: Profitability and efficiency – 3Q and 1-9/2021
Q3/21 Profitability and efficiency – 3Q and 1-9/2021 Net profit (NIS mil) Return on equity Cost/income ratio 845 17.3% 51.2% 50.8% 387 9.5% 3Q/2020 3Q/2021 3Q/2020 3Q/2021 3Q/2020 3Q/2021 17.1% 2,509 52.2% 9.0% 52.0% 1,104 1-9/2020 1-9/2021 1-9/2020 1-9/2021 1-9/2020 1-9/2021 The bank recorded the h
Slide 9: Continuous loan growth
Q3/21 Continuous loan growth Credit to the public % change in Business segment 30.9.21 30.6.21 annual terms 260 246 Housing loans 168,915 163,542 13.8% 194 205 171 181 Households + private 25,613 25,873 (0.4%) 159 221 banking Total individuals 194,528 189,415 11.2% Total businesses (2) 65,214 64,821
Slide 10: Continuous deposit growth
Q3/21 Continuous deposit growth Deposits from the public Core deposits(2) 204 127 137 194 304 106 114 96 168 284 211 178 184 199 247 2015 2016 2017 2018 2019 2020 30.9.2021 162 Core deposits(2) by segments Segment 100.3 House holds and Private banking 139.9 33% 46% Small and micro businesses 14.4 Me
Slide 11: Financing revenues from current operations continue to grow despite decrease in interest rates
Q3/21 Financing revenues from current operations (1) continue to grow despite decrease in interest rates BoI rate: FED rate: 1-9/2020 0.15% 1-9/2020 0.47% 1-9/2021 0.10% 1-9/2021 0.08% 1-9/2021 1-9/2020 Rate of change Interest revenues, net 5,727 4,134 Non-interest financing revenues 318 194 Total f
Slide 12: Expenses
Q3/21 Expenses Operating and other expenses Salaries (NIS mil) (NIS mil) 0.5% 1,333 1,339 4,013 843 863 2,576 231 225 107 114 347 689 )1( )1( )1( )1( )1( 977 1,102 1,114 )1( 736 749 2,229 2,944 3,324 619 1,859 3Q/2020 2Q/2021 3Q/2021 1-9/2020 1-9/2021 3Q/2020 2Q/2021 3Q/2021 1-9/2020 1-9/2021 Most o
Slide 13: Equity, capital adequacy and dividend
Q3/21 Equity, capital adequacy and dividend Equity (NIS mil) Capital adequacy 18,804 20,831 Total ratio Tier 1 13.62% 14.30% 2020 3Q/2021 10.04% 10.44% (1) Dividend (NIS mil) 737 753 31.12.2020 30.9.2021 404 483 BoI minimum requirement: 120 190 137 11.50% 75 122 11.50% 8.68% 8.60% 2010 2012 2014 201
Slide 14: Thank you
“Thankyou |