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Israel's First International Bank Q1 profit rise tops estimates
May 23, 2017 / 8:12 AM / 6 months ago

Israel's First International Bank Q1 profit rise tops estimates

JERUSALEM, May 23 (Reuters) -

* First International Bank of Israel (FIBI), the country’s fifth-largest bank, reported on Tuesday a rise in first-quarter net profit due to growth in its credit portfolio and a one-time gain.

* Net profit in the quarter totalled 166 million shekels ($46 million), compared with 147 million a year ago and above a forecast of 150.5 million shekels in a Reuters poll of analysts.

* The bank completed the sale of an office property in Tel Aviv for a net gain of about 28 million shekels.

* The board decided on a dividend of 70 million shekels, further to a payout of 70 million shekels in April.

* Its ratio of Tier I equity capital to risk assets reached 10.12 percent in the quarter, up from 9.92 percent a year earlier.

* ($1 = 3.5838 shekels) (Reporting by Ari Rabinovitch; Editing by Steven Scheer)

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