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First International Bank earns NIS 79m Q1 profit.
(From Israel Business Arena)
Byline: Globes' correspondent
First International Bank of Israel (TASE: FTIN1;FTIN5) today reported its results for the first quarter of 2005. The bank earned a NIS 79 million net profit, up 61.2%, compared with the corresponding quarter last year.
First International Bank's return on equity was 8.8%, compared with 5.7% in the first quarter of 2004 and 6.9% for all of last year.
Profit from financing activities before provision for doubtful debts totaled NIS 373 million in the first quarter, a 15.1% increase, compared with NIS 324 million in the corresponding quarter of 2004. Excluding Ubank (formerly Investec …
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