The net profit for Bank Leumi in 2018 amounted to NIS 3,257 million ($267 million), compared with NIS 3,172 million ($11 million) in the 2017, an increase of 2.7%, according to the bank's annual reports, published today.
The Bank's operating expenses decreased by NIS 78 million compared to the same period last year, mainly due to a decrease in salary expenses. Its efficiency index also shows a significant improvement when the index stood at 60.6% last year, compared with 62.9% in the previous year. In view of the consistent improvement in the bank's business results and surplus capital, the board of directors approved the distribution of a dividend of up to 50%.