Return on equity in the second quarter was 12.3%. Financing revenue from current operations in the second quarter was
Mizrahi Tefahot President
He added, "Despite the strong competition and uncertainty in the banking sector in recent months, due to Government proposals such as 0% VAT and target price tenders, Mizrahi Tefahot continued to maintain its leadership position in the mortgage market. In the first half of 2014, Bank performance in housing loans was at 36%. This success, which is due to the professional skills and expertise of our mortgage bankers and the resulting brand power of Tefahot, achieved concurrently with maintaining a conservative underwriting policy, continued reduction of LTV ratio and consistent improvement of the loan repayment to income ratio, along with strict review of the portfolio risk component, even under scenarios of higher interest rates and deterioration in the economy."
(c)2014 the Globes (Tel Aviv, Israel)
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