First International Bank of Israel Reports Earnings Results for the Third Quarter and Nine Months of 2016
First International Bank of Israel reported earnings results for the third quarter and nine months of 2016. For the quarter, the company reported a net profit of ILS 128 million, up 48.8%. Annualized return on equity was 7.1% in the third quarter, compared with 5% in the third quarter of 2015.
In the first nine months of 2016, the bank's net profit was ILS 409 million, 24.3% higher than in the corresponding period in 2015. Annualized return on equity was 7.6% since the beginning of the year, compared with 6.4% in the corresponding period last year. The bank reported a rise in net interest income thanks to growth in bank's credit to the public, which reached ILS 78.1 billion at the end of September, up 11.7%, compared with the end of September 2015.