Profit up at First Int'l Bank

The bank will distribute a dividend of NIS 55 million.

First International Bank of Israel (TASE: FTIN) reported net profit of NIS 146 million in the third quarter of 2014, up 1.4% from the corresponding quarter. Return on equity for the quarter reached 8.6%. First International Bank CEO Smadar Barber-Tsadik, CEO said, “The First International Bank Group's results reflect continued growth in activity, as is apparent from the expansion of the credit portfolio, the volume of customer assets, and from customers' activity in the capital market. Concurrently, the First International Bank Group is maintaining its financial resilience and its leading position in the area of capital ratios, liquidity and asset quality".

Net credit to the public rose 4.5% to NIS 69,908 million. Deposits from the public grew by 3.9% to NIS 88,737 million and customer assets increased by NIS 35,000 million or 12.1% year-on-year.

The First International Bank Group's total assets amounted to NIS 111,364 million, a year-on-year increase of 3.8%.

The ratio of core (Tier 1) capital to risk assets (Basel III) was 9.93%.

First International Bank is distributing a cash dividend of NIS 55 million to shareholders.

Published by Globes [online], Israel business news - www.globes-online.com - on November 19, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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