Mizrahi Tefahot Bank Ltd · TASE:MZTF
Mizrahi Tefahot Bank — Q2 2023 Earnings Presentation
13 slides from Mizrahi Tefahot Bank's earnings presentation, Jun 30, 2023
Slide 1: Financial statements June 30, 2023
Financial statements June 30, 2023 0
Slide 2: Disclaimer
Q2/23 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 2023 quarterly reports and/ or immediate reports, as well as the periodic, quarterly
Slide 3: Macro environment
Q2/23 Macro environment Unemployment rate)1()2( GDP growth)1( 4.1 3.7 3.7 8.6% 3.4 3.4 3.5 3.5 3.5 3.5 3.1 3.1 3.0 3.0 3.1 3.1 3.2 3.1 3.3 3.3 6.5% 2.9 4.1% 4.2% 3.0% 3.0% -1.9% 2023F 2024F 2018 2019 2020 2021 2022 Bank of Israel interest rate and inflation Known CPI – monthly change 6.0% 1 year OTC
Slide 4: Overview of Mizrahi-Tefahot
Q2/23 Overview of Mizrahi-Tefahot Leading Israeli Bank NIS 433bn NIS 317bn NIS 345bn Total Assets1 Net Loans to the public1 Deposits from the public1 NIS 6.3bn NIS 7.8bn NIS 2.8bn Net Interest Revenue2 Total Revenue2 Net Profit2 NIS 34.5bn >7,500 204 Market Cap3 Employees4 Branches5 Significant Mark
Slide 5: Financial Highlights
Q2/23 Financial Highlights Total Assets (NISbn) Net Loans to the Public (NISbn) Deposits from the Public (NISbn) 345 5.3% Balance Sheet 3.8% 433 6.3% 317 328 298 417 Growth Jun-22 Jun-23 Jun-22 Jun-23 Jun-22 Jun-23 Cost/Income Ratio Return on Equity 1 45.2% 1 22.2% 44.1% 37.8% 20.6% 1 20.1% 1 Profit
Slide 6: Asset quality (NIS mil)
Q2/23 Asset quality (NIS mil) Segment 1-6/2023 1-6/2022 Q2/2023 Q2/2022 Provisions / loans to the public Rate of Rate of Rate of Rate of Provision Provision Provision Provision provision provision provision provision Housing loans 63 0.06% 52 0.05% 21 0.04% 38 0.08% 0.31% Business 268 0.61% 102 0.25
Slide 7: Profitability and efficiency
Q2/23 Profitability and efficiency Net profit (NIS mil) Return on equity Cost/income ratio 1,398 22.0% 1,053 19.4% 45.0% 38.1% Q2/2022 Q2/2023 Q2/2022 Q2/2023 Q2/2022 Q2/2023 2,207 2,765 20.6% 46.8% )1( 279 22.2% 44.1% )1( 1,928)1( 18.0% 37.8% 1-6/2022 1-6/2023 1-6/2022 1-6/2023 1-6/2022 1-6/2023 6
Slide 8: Continuous loan growth
Q2/23 Continuous loan growth (NIS bil) Credit to the public 316.9 307.5 271.4 Business segment 30.6.23 30.6.22 % change in 245.5 Housing loans 200.9 189.4 6.1 194.4 204.7 220.8 181.1 Households + private 159.2 171.3 27.6 26.6 3.8 banking Total individuals 228.5 216.0 5.8 Total businesses (1) 88.4 82
Slide 9: Continuous deposit growth
Q2/23 Continuous deposit growth (NIS bil) Deposits from the public (NIS bil) Core deposits(1) (NIS bil) 221.0 225.0 193.9 205.8 136.6 344.5 345.2 105.6 113.5 126.9 167.9 307.9 95.5 284.2 199.5 211.0 246.8 2015 2016 2017 2018 2019 2020 2021 2022 30.6.23 178.3 183.6 162.4 Deposits by segments Segment
Slide 10: Financing revenues from current operations continue to grow
Q2/23 Financing revenues from current operations continue to grow From Q4/2020 including Union Bank. NIS mil H1 2023 H1 2022 Rate of change Interest revenues, net 6,327 4,597 Non-interest financing revenues 337 293 Total financing revenues 6,664 4,890 36.3% less: Effect of the Consumer Price Index 6
Slide 11: Expenses
Q2/23 Expenses Operating and other expenses (NIS mil) Salaries (NIS mil) 2,830 2,958 1,833 1,940 1-6/2022 1-6/2023 1-6/2022 1-6/2023 1,814 1,442 1,521 1,194 924 1,009 Q2/2022 Q4/2022 Q2/2023 Q2/2022 Q4/2022 Q2/2023 10
Slide 12: Equity, capital adequacy and dividend
Q2/23 Equity, capital adequacy and dividend Equity (NIS mil) Leverage ratio 23,780 25,814 5.42% 5.73% 31.12.22 30.6.23 2022 Q2/2023 (1) (2) Capital adequacy Dividend (NIS mil) 1,024 995 Total 13.46% ratio 13.12% 737 483 489 10.23% 404 410 9.94% 120 190 75 122 137 2010 2011 2012 2013 2014 2015 2016 2
Slide 13: Thank you
Thank you 12