Breaking the Bank: First International Bank of Israel Shares Hilarious Financial Results for Q3 2024!
Reflects continued growth and high profitability while maintaining financial stability
TEL AVIV, Israel , Nov. 25, 2024 /PRNewswire/ — First International Bank of Israel (TASE: FIBI) one of Israel’s major banking groups, today announced its results for the third quarter and nine-month period ended September 30, 2024.
Financial Highlights for the Third Quarter of 2024
Net income of NIS 620 million and a return on equity of 19.4% in the third quarter of 2024;
Net income of NIS 1,798 million and a return on equity of 19.4% for the first nine months of the year;
Credit to the public grew by 6% compared to the end of 2023 and by 3.5% compared to the second quarter of the year;
Deposits by the public grew by 11.4% compared to the end of 2023, and by 4.3% compared to the second quarter of the year;
The portfolio of customers’ assets grew by 19% compared to the end of 2023, and reached NIS 800 billion;
Equity attributed to the Bank’s shareholders was NIS 13 billion, an increase of 8.2% compared to the end of 2023;
The tier 1 capital ratio was 11.41%;
The Bank’s Board of Directors decided to distribute a dividend in the amount of NIS 248 million, representing 40% of the net income.
With such impressive financial results, the First International Bank of Israel is truly breaking the bank in the best way possible. It’s amazing to see how the bank has continued to grow and maintain profitability while ensuring financial stability. It’s clear that they are doing something right!
It’s not often that you see a bank sharing “hilarious” financial results, but in this case, it seems appropriate. The numbers speak for themselves, and it’s definitely something to celebrate!
How will this affect me?
As a customer of the First International Bank of Israel, you can rest assured knowing that the bank is in a strong financial position. This means that your money is safe and that the bank will continue to provide you with the services you need.
How will this affect the world?
The success of the First International Bank of Israel reflects positively on the Israeli economy as a whole. A strong and profitable bank is good for the country’s financial stability and growth. It shows that Israel is a good place for investment and business opportunities.
Conclusion
In conclusion, the hilarious financial results shared by the First International Bank of Israel for Q3 2024 are a true testament to the bank’s continued growth and high profitability. It’s clear that the bank is in a strong financial position, which bodes well for both customers and the Israeli economy as a whole. Here’s to breaking the bank in the best way possible!
