- Bank Leumi reported a net income of 2.29 billion shekels for the third quarter of 2024, marking a significant 29% increase compared to the previous year’s 1.77 billion shekels.
- Net interest income also saw a healthy rise, reaching 4.55 billion shekels, which is a 16% gain year-over-year.
- The bank achieved a notable reduction in provisions for loan losses, down 69% to 312 million shekels.
- Analysts are optimistic about the bank’s performance, with 5 buy ratings and no holds or sells.
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A look at Bank Leumi Le-Israel BM Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 5 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
In analyzing the long-term outlook for Bank Leumi Le-Israel BM, the Smartkarma Smart Scores reveal a promising future. With high scores in Resilience and Momentum, the company shows strong potential for steady growth and market presence. The Value and Growth scores further indicate an attractive position in terms of financial standing and expansion opportunities. While the Dividend score is slightly lower, Bank Leumi Le-Israel BM‘s overall outlook appears positive.
Bank Leumi Le-Israel BM attracts deposits and offers a range of banking and financial services, reflecting its diverse business model. The company provides various financial products, including consumer loans, mortgages, insurance, and mutual funds. Additionally, Bank Leumi holds significant equity stakes in non-financial corporations in Israel, showcasing its investment diversification. With its solid Smartkarma Smart Scores, Bank Leumi Le-Israel BM seems well-positioned to thrive in the competitive financial landscape.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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