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Short-form annual statement

Short-form annual statement of your bank account

The annual statement provides you with a picture of your account as of December 31 of the previous year. The report contains data on your assets and liabilities, on your current account activity, and on the costs of managing your account.

In order to help you understand your annual statement and gain tips that will help your financial conduct, we present the following explanations of the statement’s sections.

Part 1 – General
Part 2 – Balances as of December 31
Part 2 – Balances as of December 31 cont’d.
Part 3 – Activity in your account
Part 3b – Deposits and savings

Part 3c – Credit: housing loans, other loans, and credit facilities
Part 3d – Fees
Part 4 – Other current account data
Terms and other points of emphasis

This page was last updated on: 09/07/2024

This section presents the state of your account’s balances as of December 31, of the previous year. The balances are divided into assets (your money held at the bank) and liabilities (money that you have undertaken to return to the bank).

Make sure that you are aware of the assets and liabilities that appear in the table and that they are correct!

Current account balance – If your account balance on December 31 was above zero, the amount will appear here.
Utilized credit facilities – If your account had an overdraft (“minus”) on December 31, the amount will appear here. Please note: This box shows all credit facilities in the account (account facility, credit card facility linked to the account, and more). Therefore, the current account balance may be positive, while the utilized credit facility box may contain a negative number if you have utilized a credit facility that is not the account facility (such as the credit card facility linked to the account).
Negative balance outside the facility or in excess of the facility – If your account had a negative balance on December 31 and you don’t have a credit facility, or if you have exceeded the credit facility, the amount will appear here.

Please note: Interest on a negative balance with no facility or that exceeds the facility is more expensive.

Deposits and savings – The total of all deposits and savings in your account as of December 31 appears here.
Housing loans – This box shows the balance of your housing loans (mortgages) at the bank as of December 31. Please note: A housing loan will appear in the statement only if the account holders and the borrowers are completely identical. For instance, if the borrowers are Yisrael and Yisraela and the account holder is just Yisraela, the loan will not be displayed in the report.

More detailed information about housing loans will be sent to you in a separate statement.

Other loans – This item lists information on all loans in the account that are not housing loans (mortgages). The balance is displayed as of December 31.

This section presents average data on the activity in your account, as well as information on your interest and indexation income and expenses.

This section will help you gain a general sense of whether your account is being managed in the optimal manner or if there is room for change.

Average monthly balance – This section presents the average monthly balances of assets and liabilities in your account. The calculation is based on the simple average, meaning the total balances during the year divided by 12 months.

Take note of your credit facilities. Is there a permanent overdraft in your account?

Examine the options to cover your overdraft by transferring money from another sources, taking out a loan at a lower interest rate, and so forth.

Total interest and indexation income and expenses – This section shows the total income and expenses recorded in your account during the year from interest payments or indexation payments, if there were any.

Did you pay a particularly high amount on interest and indexation expenses in your account? If yes, perhaps it is worthwhile taking out a loan at a lower interest rate.

Do you want to know what the total cost of managing your account is? Take note of fee payments as well. This figure appears in Section 4 of the statement.

Profit and loss – securities portfolio – This section shows the annual total profit or loss resulting from the actual sale of securities, including dividend and interest receipts, after fees and before tax deductions.
Monthly income/expenses graph – This graph shows your monthly income alongside monthly expenses. Compare your income and expenses. Do your expenses exceed your income? Are there particular months in which your expenses were higher than your income? If yes, prepare accordingly, since the difference explains the “overdraft”.
Graph detailing the sources of your annual income and expenses – This graph shows your total income (divided into various income sources such as salaries, cash, etc.) and your total expenses (divided into various expense types such as checks, authorized account debits, payments cards, mortgage payments, etc.). The expenses in your account do not include fees and interest payments. Those appear in Section 3d of the statement, and in the boxes entitled “interest and indexation income/expenses”.

Use the graph to learn about your financial conduct. Is one of the components of the graph especially high? Does the graph properly represent your conduct this year? Check whether there is room for change.