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First International Bank of Israel (FBKIF), also known as FIBI, is one of Israel's major banking groups that has showcased high profitability and financial stability in its recent results. With a net income of NIS 569 million in the first quarter of 2024, the bank continues to maintain a strong position in the market. The total revenue for the quarter stood at NIS 1,581 million, while the efficiency ratio was 46.2%. Operating and other expenses amounted to NIS 731 million. Despite the ongoing crisis in Israel, FIBI remains committed to supporting its customers and providing innovative solutions to meet their financial needs.
First International Bank of Israel (FIBI) reported strong Q3 2024 results with net income of NIS 620 million, up 36.3% year-over-year, and a return on equity of 19.4%. The bank showed significant growth with credit to the public increasing 6% from year-end 2023, and deposits growing 11.4%. The customers' assets portfolio reached NIS 800 billion, up 19% from 2023. The bank maintained strong capital ratios with tier 1 capital at 11.41%. The Board approved a dividend of NIS 248 million, representing 40% of net income. Credit quality remained robust with an NPL ratio of 0.57% and expense for credit losses at NIS 22 million in Q3.
First International Bank of Israel (TASE: FIBI) reported its Q1 2024 results with a net income of NIS 569 million, a 14% increase from Q4 2023 but a 9.8% decrease from Q1 2023. The return on equity was 18.7%, and total revenue was NIS 1,581 million, down 7% year-over-year. Public deposits grew by 2.9% from the end of 2023 and by 13.4% year-over-year. The total customer asset portfolio increased by 7.2% compared to the end of 2023, reaching NIS 720 billion. The bank's Board approved a dividend of 40% of net income for the quarter. However, credit to the public decreased by 2% from the end of 2023. Operating expenses rose slightly by 1% year-over-year to NIS 731 million, while the efficiency ratio worsened to 46.2% from 43.5% in Q1 2023.
First International Bank of Israel announced its Q1 2022 results with a net profit of NIS 322 million, reflecting a 5.9% increase year-over-year. The return on equity is at 13%, while credit to the public rose by 14.7% to NIS 107,342 million. A dividend distribution of NIS 160 million was approved, amounting to 50% of net income. Tier I equity capital ratio stands at 10.79%, exceeding regulatory requirements. The bank noted no credit loss expenses during the quarter, with a 22% drop in problematic credit.
First International Bank of Israel reported a net profit of NIS 1,405 million for 2021, an impressive 87.3% increase from 2020, with a return on equity of 14.7%. The fourth quarter alone saw a net profit of NIS 333 million, up 58.6% year-over-year. Credit to the public grew by 10.8%, reaching NIS 102,240 million, and efficiency improved with a ratio of 58.3%. The Tier I capital ratio was robust at 11.46%. A dividend of NIS 165 million was approved, marking a 6.07% annual return. The bank also advanced in digital banking innovations, enhancing customer satisfaction.
First International Bank of Israel reported a remarkable net profit of NIS 364 million for Q3 2021 and a total of NIS 1,072 million for the first nine months, marking a 99% increase compared to the previous year. The bank's return on equity was 15.5% in Q3 and 15.3% year-to-date. Total income grew by 8.5%, while credit to the public rose by 6.8%. The customer assets portfolio grew 22.6% over the past year. A dividend of NIS 320 million was approved, reflecting the bank's strong financial health.
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