Israel's Bank Leumi Q1 profit jumps, to buy back shares

Credit: REUTERS/Gil Cohen Magen

TEL AVIV, May 27 (Reuters) - Bank Leumi LUMI.TA, one of Israel's two largest lenders, reported a jump in quarterly net profit, boosted by the sale of its credit card unit in February.

Leumi said on Monday it earned 1.09 billion shekels ($303 million) in the first quarter, up from 730 million a year earlier.

It declared a quarterly dividend of 437 million shekels, representing 40 percent of net income and up from 275 million in the fourth quarter.

It said its board approved a buyback of its own shares valued at up to 700 million shekels.

($1 = 3.6012 shekels)

(Reporting by Tova Cohen, Editing by Ari Rabinovitch)

((; +972-9-899-0222; Reuters Messaging:

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.