Mizrahi Tefahot Bank Ltd · TASE:MZTF
Mizrahi Tefahot Bank — Q3 2024 Earnings Presentation
15 slides from Mizrahi Tefahot Bank's earnings presentation, November 2024
Slide 1: Financial statements September 30, 2024
Financial statements September 30, 2024 0
Slide 2: Disclaimer
Q3/24 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
Q3/24 Macro environment Unemployment rate)1( GDP growth Bank of Israel interest rate and inflation Known CPI – monthly change 1 year OTC inflation expectation 2.9% )4( (1) Broad Unemployment Rate (general definition of unemployed, unemployed that ceased working due to dismissal or closing of their w
Slide 4: Overview of Mizrahi-Tefahot
Q3/24 Overview of Mizrahi-Tefahot Leading Israeli Bank NIS 472bn NIS 348bn NIS 385bn Total Assets1 Net Loans to the public1 Deposits from the public1 NIS 9.1bn NIS 11.2bn NIS 4.1bn Net Interest Revenue2 Total Revenue2 Net Profit2 NIS 42.1bn >7,100 206 Market Cap3 Employees4 Branches4 Significant Mar
Slide 5: Financial Highlights
Q3/24 Financial Highlights Total Assets (NISbn) Net Loans to the Public (NISbn) Deposits from the Public (NISbn) 7.2% 472 348 9.9% 385 Balance Sheet 9.4% 448 325 359 Growth Dec-23 Sep-24 Dec-23 Sep-24 Dec-23 Sep-24 Cost/Income Ratio Return on Equity 19.0% 36.6% Profitability 33.9% 16.8% Q3/23 Q3/24
Slide 6: The effect of Iron Swords war events
Q3/24 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
Q3/24 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 30.
Slide 8: Asset quality (NIS mil)
Q3/24 Asset quality (NIS mil) Segment 1-9/2024 1-9/2023 Q3/2024 Q3/2023 Provisions / loans to the public Provision Rate of Provision Rate of Provision Rate of Provision Rate of 0.86% provision provision provision provision Housing loans 73 0.04% 235 0.15% 39 0.07% 172 0.34% Business 256 0.33% 671 0.
Slide 9: Profitability and efficiency
Q3/24 Profitability and efficiency Net profit (NIS mil) Return on equity Cost/income ratio 19.0% 1,425 16.8% 36.6% 33.9% 1,098 Q3/2023 Q3/2024 Q3/2023 Q3/2024 Q3/2023 Q3/2024 Q2/2023 Q2/2024 4,149 3,863 37.4% 20.3% 19.0% 34.7% 1-9/2023 1-9/2024 1-9/2023 1-9/2024 1-9/2023 1-9/2024 8
Slide 10: Continuous loan growth
Q3/24 Continuous loan growth (NIS bil) Credit to the public(1) 348 307 325 Business 271 30.9.24 31.12.23 % change 246 segment Housing loans 218.6 205.4 8.5 194 205 159 171 181 221 Households + 27.4 26.9 2.9 private banking Total individuals 246.0 232.3 7.9 (2) Total businesses 102.3 93.0 13.2 Total
Slide 11: Continuous deposit growth
Q3/24 Continuous deposit growth (NIS bil) Deposits from the public (NIS bil) Core deposits(1) (NIS bil) 240 221 232 206 385 194 359 127 137 345 96 106 114 168 308 284 199 211 247 178 184 162 Deposits by segments Segment 144.7 166.7 House holds and Private banking 37% 43% Small and micro businesses 1
Slide 12: Financing revenues from current operations
Q3/24 Financing revenues from current operations From Q4/2020 including Union Bank. NIS mil Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Interest revenues, net 3,146 3,181 2,959 2,689 2,685 3,220 3,156 Non-interest financing revenues 87 250 341 )167( 345 26 60 Total financing revenues 3,2
Slide 13: Expenses
Q3/24 Expenses Operating and other expenses (NIS mil) Salaries (NIS mil) 4,373 3,896 2,842 2,571 1-9.2023 1-9.2024 1-9.2023 1-9.2024 1,415 1,392 1,289 902 886 847 Q3/2023 2023 quarterly Q3/2024 Q3/2023 2023 quarterly Q3/2024 average average 12
Slide 14: Equity, capital adequacy and dividend
Q3/24 Equity, capital adequacy and dividend Equity (NIS mil) Leverage ratio 6.01% 30,408 5.83% 27,461 31.12.23 30.9.24 31.12.2023 30.9.2024 Capital adequacy (1)(2) Dividend (NIS mil) 1,660 13.58% 13.36% 1,273 1,024 995 737 10.43% 483 10.32% 404 120 190 75 122 137 31.12.23 30.9.24 (3) BoI minimum 12.
Slide 15: Thank you
Thank you 14