Leumi sets aside up to NIS 1.1b for loan losses

• Published date: 26 October 2023

Even before the war, Israel's banks had begun increasing credit loss expenses as a safety cushion because of rising interest rates. In the second quarter, Bank Leumi set aside NIS 318 million for credit losses - an amount that will be tripled in the third quarter

Companies are due to publish their third quarter results in November but the Israel Securities Authority has granted an extension, if required.

Bank Leumi's share price is down 20% since the start of the...