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Israel's First International Bank Q3 profit rises, credit charges drop
November 15, 2017 / 7:51 AM / a month ago

Israel's First International Bank Q3 profit rises, credit charges drop

JERUSALEM, Nov 15 (Reuters) -

* First International Bank of Israel (FIBI), the country’s fifth-largest bank by assets, reported on Wednesday a 59 percent rise in quarterly profit on higher interest income and lower credit loss expenses.

* FIBI posted net profit of 203 million shekels ($57 million) in the third quarter, up from 128 million a year earlier.

* Net interest income rose to 565 million shekels from 553 million in the same period of 2016.

* Expenses from credit losses slipped to 9 million shekels from 21 million.

* FIBI declared a dividend of 100 million shekels for the third quarter.

* The bank’s tier I equity ratio to risk-weighted assets rose to 10.32 percent from 10.09 percent at the end of 2016. ($1 = 3.5352 shekels) (Reporting by Ari Rabinovitch)

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