Mizrahi Tefahot Bank Ltd · TASE:MZTF
Mizrahi Tefahot Bank — FY2024 Earnings Presentation
17 slides from Mizrahi Tefahot Bank's earnings presentation, Feb 27, 2025
Slide 1: Immediate Report for General Essential Information
Mizrahi Tefahot Bank Ltd.’s Immediate Reports are published in Hebrew on the Israel Securities Authority and the Tel Aviv Stock Exchange websites. The English version is prepared for convenience purposes only. The only binding version of the Immediate Reports is the Hebrew version. In the event of a
Slide 2: Company details and reporting information
The reference numbers of previous documents on the subject (reference does not constitute incorporation by reference): Securities of a Corporation Listed for Trading on Form structure revision date: August 6 2024 the Tel Aviv Stock Exchange Abbreviated Name: Mizrahi Tefahot Address: 7 Jabotinsky Str
Slide 3: Financial statements December 31, 2024
Financial statements December 31, 2024 0
Slide 4: Disclaimer
Q4/24 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 and annual reports and/ or immediate reports, as well as the periodic,
Slide 5: Macro environment
Q4/24 Macro environment Unemployment rate)1( GDP growth (2) Bank of Israel interest rate and inflation Known CPI – monthly change 1 year OTC inflation expectation 2.33% )4( (1) Broad Unemployment Rate (general definition of unemployed, unemployed that ceased working due to dismissal or closing of th
Slide 6: Overview of Mizrahi-Tefahot
Q4/24 Overview of Mizrahi-Tefahot Leading Israeli Bank NIS 486bn NIS 358bn NIS 393bn Total Assets1 Net Loans to the public1 Deposits from the public1 NIS 11.8bn NIS 14.7bn NIS 5.5bn Net Interest Revenue2 Total Revenue2 Net Profit2 NIS 44.9bn ≈ 7,200 1, 4 205 Market Cap3 Employees Branches1 Significa
Slide 7: Financial Highlights
Q4/24 Financial Highlights Total Assets (NISbn) Net Loans to the Public (NISbn) Deposits from the Public (NISbn) 486 393 448 8.4% 358 359 9.7% Balance Sheet 325 10.0% Growth Dec-23 Dec-24 Dec-23 Dec-24 Dec-23 Dec-24 Cost/Income Ratio Return on Equity 37.7% 35.5% 19.1% 18.5% Profitability 2023 2024 2
Slide 8: The effect of Iron Swords war events
Q4/24 The effect of Iron Swords war events • Since October 7, 2023 and throughout the war, the Bank has prepared to continue its operations and to provide service to its customers, including in war-affected zones, as much as possible. • The Bank takes part in the national endeavor and has announced
Slide 9: Loan balance with changes to terms and conditions of debt due to the war
Q4/24 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 segment as of debt as of t
Slide 10: Asset quality (NIS mil)
Q4/24 Asset quality (NIS mil) Provisions / loans to Segment 1-12/2024 1-12/2023 Q4/2024 Q4/2023 the public Rate of Rate of Rate of Rate of Provision provision Provision provision Provision provision Provision provision 0.45% Housing loans 64 0.03% 247 0.12% )9( )0.02%( 12 0.02% Business 316 0.30% 89
Slide 11: Profitability and efficiency
Q4/24 Profitability and efficiency Net profit (NIS mil) Return on equity Cost/income ratio 15.5% 16.9% 38.7% 38.0% 1,306 1,047 Q4/2023 Q4/2024 Q4/2023 Q4/2024 Q4/2023 Q4/2024 Q4/2023 Q4/2024 5,455 4,910 19.1% 18.5% 37.7% 35.5% 2023 2024 2023 2024 2023 2024 8
Slide 12: Continuous loan growth
Q4/24 Continuous loan growth (NIS bil) Credit to the public(1) 358.0 325.3 307.5 Business segment 31.12.24 31.12.23 % change in 271.4 245.5 Housing loans 224.1 205.4 9.1 194.4 204.7 Households + private 181.1 27.6 26.9 2.6 159.2 171.3 220.8 banking Total individuals 251.7 232.3 8.3 Total businesses
Slide 13: Continuous deposit growth
Q4/24 Continuous deposit growth (NIS bil) Deposits from the public (NIS bil) Core deposits(1) (NIS bil) 221.0 231.8 240.7 193.9 205.8 358.6 393.4 126.9 136.6 344.5 95.5 105.6 113.5 167.9 307.9 284.2 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 199.5 211.0 178.3 183.6 246.8 162.4 Deposits by seg
Slide 14: Financing revenues from current operations
Q4/24 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 Q4 2024 Interest revenues, net 3,146 3,181 2,959 2,689 2,685 3,220 3,156 2,753 Non-interest financing revenues 87 250 341 )167( 345 26 60 143 Total fina
Slide 15: Expenses
Q4/24 Expenses Operating and other expenses (NIS mil) Salaries (NIS mil) 5,569 5,222 3,544 3,431 2023 2024 2023 2024 Total operating and other expenses decreased by 6.2% compared to 2023. The decrease in operating and other expenses derives, inter alia, from the continuous synergy following the merg
Slide 16: Equity, capital adequacy and dividend
Q4/24 Equity, capital adequacy and dividend Equity (NIS mil) Leverage ratio 6.04% 27,461 31,292 5.83% 31.12.23 31.12.24 2023 2024 (1)(2) Dividend (NIS mil) 2,182 Capital adequacy 13.36% 13.36% 1,274 1,024 995 737 10.40% 10.32% 404 483 122 190 137 120 75 2010 2011 2012 2013 2014 2015 2016 2017 2018 2
Slide 17: Thank you
Thank you 14