TEL AVIV, March 16 (Reuters) -
* First International Bank of Israel (FIBI), the
country's fifth-largest bank, reported on Thursday a slight drop
in fourth quarter net profit due to nonrecurring items.
* Net profit in the quarter totalled 112 million shekels
($31 million) compared with 117 million a year ago. Nonrecurring
items decreased net profit by 29 million shekels.
* The bank signed an agreement for the sale of operations of
FIBI Switzerland. A provision of 18 million shekels for expenses
connected with the sale was recognised in the fourth quarter
while income from the sale and the improvement in the efficiency
ratio will be recognised in 2017.
* The board decided on a dividend of 70 million shekels,
further to a payout of 200 million in the fourth quarter.
* Its ratio of Tier I equity capital to risk assets was
10.09 percent at the end of 2016, up from 9.81 percent a year
earlier.($1 = 3.6291 shekels)
(Reporting by Tova Cohen)