Mizrahi Tefahot Bank Full Year 2023 Earnings: EPS: ₪19.07 (vs ₪17.47 in FY 2022)

Mizrahi Tefahot Bank (TLV:MZTF) Full Year 2023 Results

Key Financial Results

• Revenue: ₪13.3b (up 1.4% from FY 2022).
• Net income: ₪4.91b (up 9.8% from FY 2022).
• Profit margin: 37% (up from 34% in FY 2022). The increase in margin was primarily driven by lower expenses.
• EPS: ₪19.07 (up from ₪17.47 in FY 2022).

MZTF Banking Performance Indicators

• Net interest margin (NIM): 2.84% (up from 2.56% in FY 2022).
• Cost-to-income ratio: 37.7% (down from 45.2% in FY 2022).
• Non-performing loans: 1.13% (up from 0.84% in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Mizrahi Tefahot Bank Earnings Insights

Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Banks industry in Asia.

Performance of the market in Israel.

The company's shares are down 7.8% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Mizrahi Tefahot Bank that you should be aware of.

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