TEL AVIV, March 19 First International Bank of
Israel (FIBI), the country's fifth-largest bank,
reported a 6.8 percent rise in fourth-quarter profit on
Wednesday on lower expenses for credit losses and higher
FIBI posted a fourth-quarter net profit of 141 million
shekels ($40.74 million) compared with 132 million a year
Net interest income and non-interest financing income edged
up to 594 million shekels from 593 million. The bank decreased
its expenses on credit losses to 32 million shekels from 49
FIBI's Tier 1 capital ratio increased to 10.04 percent from
9.65 percent at the end of 2012.
"The First International Bank Group continues to present
earnings stability, despite the further decline in the interest
rate," said the bank's chief executive, Smadar Barber-Tsadik.
"This was made possible by a growth in customers' activity,
mainly in the areas of investment and capital market activity."
($1 = 3.4606 Israeli Shekels)
(Reporting by Tova Cohen)