First International Bank Has Good First Quarter

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157
Headquarters in Tel Aviv

Net profits of First International Bank rose 33.6% to NIS 183 million. First International’s return on equity was 9.5%. The bank’s profit from financing rose 9.1%, compared to NIS 681 million earned by First International in the first quarter of 2018. Both the bank’s deposits and lending increased. First International’s deposits increased by 3.3% since the end of 2018, to NIS 115.349 billion. The bank’s  loan portfolio increased by 2.4% and stands at NIS 86.353 billion. First International continues to streamline its workforce and has brought its operational efficiency to 67.2%, which represents an improvement from 74.8% efficiency implemented the year before. The bank’s loan-to-equity-ratio stands at 10.53%. First International will distribute NIS 105 million, which represents approximately 50% of the bank’s net profit for the quarter.

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