Bank Leumi Profit Drops 12.6% in Q3 2026 Amid Special Tax
Translated & summarized from NEWSru Israel by baba
Bank Leumi reported a 12.6% drop in third-quarter net profit to 508 million shekels, with a 10.1% decrease for the first nine months of 2026. The bank's board approved dividends of 254 million shekels. Despite a special tax, Israel's top five banks are expected to earn approximately 30 billion shekels this year.
The story in 6 lines · by baba
- Bank Leumi's Q3 2026 net profit decreased by 12.6% to 508 million shekels.
- The bank's net profit for the first nine months of 2026 fell by 10.1%.
- Bank Leumi will pay out 254 million shekels in dividends, 50% of its quarterly profit.
- The bank's loan portfolio grew by 21.9% year-over-year.
- Total customer assets increased by 16.9% to approximately 1.26 trillion shekels.
- Israel's five largest banks are expected to earn about 30 billion shekels this year despite a special tax.
Bank Leumi released its third-quarter financial report on Wednesday, November 11, 2026, revealing a 12.6% decrease in net profit compared to the same period last year. The bank's profit for July-September fell from 581 million to 508 million shekels. Return on equity for the quarter was 13.8%, or 15.3% excluding the special bank tax. The board of directors approved a dividend payout of 50% of the quarterly profit, amounting to 254 million shekels.
For the first nine months of 2026, Bank Leumi's net profit declined by 10.1%, from 1.748 billion to 1.571 billion shekels. Equity yield for this period stood at 14.3%, or 15.9% without the special tax. The bank's loan portfolio saw a significant increase of 21.9% year-over-year and 5% from the end of the second quarter. Total customer assets grew by 16.9% to approximately 1.26 trillion shekels, while shareholders' equity reached about 14.5 billion shekels.
Despite a special 3 billion shekel tax imposed to cover military expenses, Israel's five largest banks are projected to collectively earn around 30 billion shekels this year.
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