Israel Discount Bank (TASE: DSCT) presented a net profit of NIS 4.3 billion for 2024 this morning, 3% higher than the profit for 2023. The group’s return on equity was 14.2% last year, down from 15.7% in 2023. The return on equity from banking activity in Israel was higher, at 16.9%.
Credit to the public rose 8% last year, with credit to large corporations growing by 11.9%. Credit to small and very small businesses grew by 4.2%; credit to households excluding home loans grew by 9.1%; and home loans (mortgages) grew by 6.1%.
RELATED ARTICLES
Discount Bank’s credit loss expense in 2024 was NIS 702 million, half the NIS 1.5 billion expense in the previous year. The bank said that the sharp fall reflected the recovery of the economy after 2023, when the banks made large general provisions against credit losses on the instructions of the Supervisor of Banks. The credit loss expense in 2024 represented 0.26% of the credit portfolio, which compares with 0.59% in 2023.
The bank has decided on a dividend distribution of 30% of its fourth quarter 2024 profit. In addition, it will buy back shares, which will bring the total dividend to 40% of profit, in line with the other banks.
Published by Globes, Israel business news – en.globes.co.il – on March 11, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
