First International Bank of Israel (TASE: FIBI) one of Israel's major banking groups, today announced its results for the third quarter of 2025. Statements reflect accelerated growth and high profitability while maintaining financial strength
Financial Highlights
— Net income for the first nine months of the year: NIS 1,748 million. Return on Equity (ROE): 16.9%
— Net income for the third quarter of 2025: NIS 581 million.Return on Equity (ROE): 16.2%
— Income was affected by nonrecurring losses atCAL; excluding these losses, net income for the third quarter totals NIS 624 million, with a 17.4% ROE
— Total revenues for the first nine months of the year went up 6% from the prior-year period
— Customer assets went up 34.4% from the prior-year period and up 5.8% in the third quarter, totaling NIS 1.074 trillion
— Gross credit to the public went up 11.9% from the prior-year period, and up 3.4% in the third quarter of the year
— Deposits from the public went up 9.4% from the prior-year period, and up 3.5% in the third quarter of the year
— The equity attributable to the Bank's shareholders totaled NIS 14,543 million, up 11.3% from the prior-year period
— Tier 1 capital ratio: 11.39%
— The Bank's Board of Directors decided to approve an NIS 436 million dividend distribution, comprising 50% of the net income for the third quarter and an additional amount out of the remaining distributable profits
Third Quarter and nine month 2025 Results Summary
The FIBI Group's net income for the first nine months of the year totaled NIS 1,748 million, down 2.8% from the prior-year period. The ROE reached 16.9%. Net income for the third quarter of 2025 totaled NIS 581 million, down 6.3% from the same quarter last year. ROE reached 16.2%. Income was affected by nonrecurring losses at CAL; excluding these losses, net income for the third quarter totals NIS 624 million, with a 17.4% ROE.
Total revenues for the first nine months of the year went up 6% from the prior-year period, totaling NIS 5,337 million. Fee income in the first nine months of the year went up 17.5% from the prior-year period, totaling NIS 1,320 million. Fee income for the third quarter went up 16.4% from the same quarter last year.
Gross credit to the public totaled NIS 141.4 billion, up 11.9% from the prior-year period, and up 3.4% from the second quarter of the year. Deposits from the public totaled NIS 233 billion, up 9.4% from the prior-year period, and a 3.5% increase compared to the second quarter of the year. The total customer asset portfolio went up 34.4% from the prior-year period and up 5.8% in the third quarter, totaling NIS 1.074 trillion.
The equity attributable to the Bank's shareholders went up to NIS 14,543 million, reflecting a 11.3% growth rate compared to the prior-year period. The Tier 1 capital ratio is 11.39%, which exceeds the regulatory capital requirement by 2.16% and facilitates the continued growth of the Group's operations.
High-quality loan portfolio: the non-performing loan (NPL) ratio (the rate of non-accruing loans or loans that are 90 or more days past due out of the total credit to the public) is 0.46%, compared to 0.57% for the prior-year period.
Operating and other expenses for the first nine months of the year totaled NIS 2,383 million. The efficiency ratio was 44.7% for the first nine months of the year and 43.7% for the third quarter of 2025.
The provision for income taxes for the first nine months of the year went up to NIS 1,157 million, compared to NIS 1,033 million for the prior-year period, and the effective tax rate was 39.0%, compared to 36.3% for the prior-year period. The tax rate increase mainly stems from income attributed to previous years for the prior-year period and an increase in the special fee applicable to banks. The Bank's Board of Directors decided to approve an NIS 436 million cash dividend distribution to the shareholders, comprising 50% of the net income for the third quarter and an additional amount out of the remaining distributable income. The Board of Directors will continue to discuss the implementation of the Bank's dividend distribution policy in light of recent developments and their impact on the economy and on the Bank.
Management Comment
Eli Cohen, CEO of the First International Bank of Israel: “The First International Bank's results for the third quarter reflect resilience and strength, as well as our ability to deliver continued rapid growth in our core strategic focus areas: deposits and customer assets have grown rapidly, surpassing NIS 1 trillion, and the loan portfolio continues to grow while maintaining high quality of credit and a balanced risk profile.
“There is a great sense of optimism in the air as we celebrate the return of the living hostages and the progress on the ceasefire agreement. The economy has remained stable during the protracted and costly war, primarily because the country entered the conflict in strong condition following two decades of growth, with a thriving high-tech sector, a consistently declining debt-to-GDP ratio, a robust financial system, and substantial foreign currency reserves.
“The Israeli economy is now at an inflection point with potential for growth, especially noting the possibility of expanding the regional Abraham Accords. The situation remains fragile, and we must act responsibly so that the country and the economy successfully navigate the coming challenges as we continue to make progress toward resuming growth.
“I would like to thank the Bank's employees for their tireless dedication during these difficult times, and for their unwavering loyalty, professionalism, and commitment to the Bank and its customers, and to express hope for the return of the remaining fallen hostages to home to Israel for proper burial.”
CONDENSED PRINCIPAL FINANCIAL INFORMATION AND PRINCIPAL EXECUTION INDICES
Principal execution indices
For the three months For the nine months For the year ended September 30, ended September 30, ended December 31, 2025 2024 2025 2024 2024 in %Return on equity attributed to shareholders of the Bank(1) 16.2 19.4 16.9 19.4 19.0Return on average assets(1) 0.88 1.05 0.90 1.05 1.02Ratio of total income to average assets(1) 2.8 3.1 2.8 2.9 2.9Ratio of interest income, net to average assets(1) 2.0 2.1 1.9 2.1 2.0Ratio of fees to average assets(1) 0.7 0.7 0.7 0.7 0.7Efficiency ratio 43.7 42.8 44.7 44.5 44.1
As of September 30, As of December 31, 2025 2024 2024 in %Ratio of tier 1 equity capital 11.39 11.41 11.31Leverage ratio 5.19 5.17 5.18Liquidity coverage ratio(3) 131 171 165Net stable funding ratio 127 142 140
Principal credit quality indices
For the three months For the nine months For the year ended September 30, ended September 30, ended December 31, 2025 2024 2025 2024 2024 in %Ratio of provision for credit losses to credit to the public 1.15 1.29 1.15 1.29 1.25Ratio of total provision for credit losses(2)to credit to the public 1.29 1.41 1.29 1.41 1.38Ratio of non-accruing debts or in arrears of 90 days or more to credit to the public 0.46 0.57 0.46 0.57 0.53Ratio of provision for credit losses to total non-accruing credit to the public 256.2 230.5 256.2 230.5 244.6Ratio of net write-offs to average total credit to the public(1) (0.01) (0.01) (0.03) (0.06) (0.04)Ratio of expenses (income) for credit losses to average total credit to the public(1) 0.05 0.07 (0.01) (0.06) (0.01)
Principal data from the statement of income
For the three months For the nine months ended September 30, ended September 30, 2025 2024 2025 2024 NIS millionNet profit attributed to shareholders of the Bank 581 620 1,748 1,798Interest Income, net 1,290 1,265 3,734 3,601Expenses (income) from credit losses 17 22 (10) (51)Total non-Interest income 538 552 1,603 1,436Of which: Fees 461 396 1,320 1,123Total operating and other expenses 798 777 2,383 2,240Of which: Salaries and related expenses 438 *435 1,340 *1,317Primary and diluted net profit per share of NIS 0.05 par value (NIS) 5.79 6.18 17.42 17.92
Principal data from the balance sheet
30.9.25 30.9.24 31.12.24 NIS millionTotal assets 269,499 242,512 248,563of which: Cash and deposits with banks 81,921 81,440 77,175Securities 37,995 28,860 34,396Credit to the public, net 139,808 124,749 129,416Total liabilities 254,273 228,823 234,479of which: Deposits from the public 233,020 212,907 214,755Deposits from banks 1,730 2,631 2,508Bonds and subordinated capitalnotes 5,836 4,474 4,479Capital attributed to the shareholders of the Bank 14,543 13,066 13,430
Additional data
30.9.25 30.9.24 31.12.24 0.01 NISShare price 23,710 15,410 17,940Dividend per share 757 739 986
* Reclassified. (1) Annualized. (2) Including provision in respect of off-balance sheet credit instruments. (3) The ratio is computed in respect of the three months ended at the end of the reporting period.
CONSOLIDATED STATEMENT OF INCOME (NIS million)
For the three months For the nine months For the year ended September 30 ended September 30 Ended December 31 2025 2024 2025 2024 2024 (unaudited) (unaudited) (unaudited) (unaudited) (audited)Interest Income 3,120 2,955 8,942 8,410 11,097Interest Expenses 1,830 1,690 5,208 4,809 6,357Interest Income, net 1,290 1,265 3,734 3,601 4,740Expenses (income) from credit losses 17 22 (10) (51) (16)Net Interest Income after income from credit losses 1,273 1,243 3,744 3,652 4,756Non- Interest IncomeNon-Interest Financing income 70 153 275 300 432Fees 461 396 1,320 1,123 1,553Other income 7 3 8 13 21Total non- Interest income 538 552 1,603 1,436 2,006Operating and other expensesSalaries and related expenses 438 *435 1,340 *1,317 1,739Maintenance and depreciation of premises andequipment 85 *116 251 *279 359Amortizations and impairment of intangible assets 37 36 108 99 134Other expenses 238 190 684 545 745Total operating and other expenses 798 777 2,383 2,240 2,977Profit before taxes 1,013 1,018 2,964 2,848 3,785Provision for taxes on profit 387 390 1,157 1,033 1,383Profit after taxes 626 628 1,807 1,815 2,402The bank's share in profit (loss) of equity-basis investee, after taxes (15) 22 23 62 74Net profit:Before attribution to non‑controlling interests 611 650 1,830 1,877 2,476Attributed to non‑controlling interests (30) (30) (82) (79) (105)Attributed to shareholders of the Bank 581 620 1,748 1,798 2,371 NISPrimary profit per share attributed to the shareholdersof the BankNet profit per share of NIS 0.05 par value 5.79 6.18 17.42 17.92 23.63Diluted profit per share attributed to the shareholdersof the BankNet profit per share of NIS 0.05 par value 5.79 6.18 17.42 17.92 23.63
* Reclassified.
STATEMENT OF COMPREHENSIVE INCOME (NIS million)
For the three months For the nine months For the year Ended ended September 30 ended September 30 December 31 2025 2024 2025 2024 2024 (unaudited) (unaudited) (unaudited) (unaudited) (audited)Net profit before attribution to non‑controlling interests 611 650 1,830 1,877 2,476Net profit attributed to non‑controlling interests (30) (30) (82) (79) (105)Net profit attributed to the shareholders of the Bank 581 620 1,748 1,798 2,371Other comprehensive income (loss) before taxes:Adjustments of available for sale bonds to fair value, net 39 129 203 (115) 31Adjustments of liabilities in respect of employee benefits(1) (1) (2) 8 10 (60)Other comprehensive income (loss) before taxes 38 127 211 (105) (29)Related tax effect (16) (49) (83) 41 9Other comprehensive income (loss) before attribution to non‑controlling interests, after taxes 22 78 128 (64) (20)Less other comprehensive income (loss) attributed to non‑controlling interests – 3 6 (2) 3Other comprehensive income (loss) attributed to the shareholders of the Bank, aftertaxes 22 75 122 (62) (23)Comprehensive income before attribution to non‑controlling interests 633 728 1,958 1,813 2,456Comprehensive income attributed to non‑controlling interests (30) (33) (88) (77) (108)Comprehensive income attributed to the shareholders of the Bank 603 695 1,870 1,736 2,348
(1) Mostly reflects adjustments in respect of actuarial assessments as of the end of the period regarding defined benefits pension plans and deduction of amounts recorded in the past in other comprehensive income.
CONSOLIDATED BALANCE SHEET (NIS million)
September 30, December 31, 2025 2024 2024 (unaudited) (unaudited) (audited)AssetsCash and deposits with banks 81,921 81,440 77,175Securities 37,995 28,860 34,396Securities borrowed or purchased under agreements to repurchase 184 147 70Credit to the public 141,432 126,374 131,050Provision for Credit losses (1,624) (1,625) (1,634)Credit to the public, net 139,808 124,749 129,416Credit to the government 1,466 1,611 1,496Investment in investee company 862 854 842Buildings and equipment 865 852 867Intangible assets 362 350 363Assets in respect of derivative instruments 4,131 2,308 2,565Other assets(2) 1,905 1,341 1,373Total assets 269,499 242,512 248,563Liabilities and CapitalDeposits from the public 233,020 212,907 214,755Deposits from banks 1,730 2,631 2,508Deposits from the Government 934 689 2,540Securities lent or sold under agreements to repurchase 3,623 1,542 2,304Bonds and subordinated capitalnotes 5,836 4,474 4,479Liabilities in respect of derivative instruments 4,520 2,086 2,729Other liabilities(1)(3) 4,610 4,494 5,164Total liabilities 254,273 228,823 234,479Shareholders' equity 14,543 13,066 13,430Non-controlling interests 683 623 654Total capital 15,226 13,689 14,084Total liabilities and capital 269,499 242,512 248,563
(1) Of which: provision for credit losses in respect of off-balance sheet credit instruments in the amount of NIS 207 million and NIS 160 million and NIS 177 million at 30.9.25, 30.9.24 and 31.12.24, respectively. (2) Of which: other assets measured at fair value in the amount of NIS 12 million and NIS 16 million and NIS 1 million at 30.9.25, 30.9.24 and 31.12.24, respectively. (3) Of which: other liabilities measured at fair value in the amount of NIS 12 million and NIS 48 million and NIS 1 million at 30.9.25, 30.9.24 and 31.12.24, respectively.
STATEMENT OF CHANGES IN EQUITY (NIS million)
For the three months ended September 30, 2025 (unaudited) Share Capital Total Accumulated Retained Total Non- Total capital reserves from capital other earnings(2) controlling capital and benefit due to and comprehensive interests premium(1) share-based capital income (loss) payment reserves transactionsBalance as of June 30, 2025 927 1 928 (78) 13,408 14,258 712 14,970Net profit for the period – – – – 581 581 30 611Dividend – – – – (319) (319) (59) (378)Benefit due to share-based payment transactions – 1 1 – – 1 – 1Other comprehensive income, after tax effect – – – 22 – 22 – 22Balance as of September 30, 2025 927 2 929 (56) 13,670 14,543 683 15,226
For the three months ended September 30, 2024 (unaudited) Share Accumulated Retained Total Non- Total capital other comprehensive earnings(2) controlling capital and income (loss) interests premium(1)Balance as of June 30, 2024 927 (292) 11,980 12,615 590 13,205Net profit for the period – – 620 620 30 650Dividend – – (244) (244) – (244)Other comprehensive income, after tax effect – 75 – 75 3 78Balance as of September 30, 2024 927 (217) 12,356 13,066 623 13,689
For the nine months ended September 30, 2025 (unaudited) Share Capital Total Accumulated Retained Total Non- Total capital reserves from capital other earnings(2) controlling capital and benefit due to and comprehensive interests premium(1) share-based capital income (loss) payment reserves transactionsBalance as of December 31, 2024 (audited) 927 – 927 (178) 12,681 13,430 654 14,084Net profit for the period – – – – 1,748 1,748 82 1,830Dividend – – – – (759) (759) (59) (818)Benefit due to share-based payment transactions – 2 2 – – 2 – 2Other comprehensive income, after tax effect – – – 122 – 122 6 128Balance as of September 30, 2025 927 2 929 (56) 13,670 14,543 683 15,226
For the nine months ended September 30, 2024 (unaudited) Share Accumulated Retained Total Non- Total capital other earnings(2) controlling capital and comprehensive interests premium(1) lossBalance as at December 31, 2023 (audited) 927 (155) 11,299 12,071 575 12,646Net profit for the period – – 1,798 1,798 79 1,877Dividend – – (741) (741) (29) (770)Other comprehensive loss, after tax effect – (62) – (62) (2) (64)Balance as of September 30, 2024 927 (217) 12,356 13,066 623 13,689
STATEMENT OF CHANGES IN EQUITY (CONT'D) (NIS million)
For the year ended December 31, 2024 (audited) Share capital Accumulated Retained Total Non- Total and premium(1) other earnings(2) controlling capital comprehensive interests lossBalance as of December 31, 2023 927 (155) 11,299 12,071 575 12,646Net profit for the period – – 2,371 2,371 105 2,476Dividend – – (989) (989) (29) (1,018)Other comprehensive income (loss), after tax effect – (23) – (23) 3 (20)Balance as of December 31, 2024 927 (178) 12,681 13,430 654 14,084
(1) Including share premium of NIS 313 million (as from 1992 onwards).(2) Including an amount of NIS 2,391 million which cannot be distributed as dividend.
Contact:
Dafna ZuckerFirst International Bank of Israelzucker.d@fibi.co.i+972-3-519-6224
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SOURCE First International Bank of Israel
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