First Int'l Bank reports small rise in profits

Source: Globes, Tel Aviv, IsraelAug.迷你倉 28--First International Bank of Israel (TASE: FTIN) today reported single-digit revenue and profit growth for the second quarter of 2013.Net interest income and non-interest income rose to NIS 956 million for the second quarter from NIS 902 million for the corresponding quarter of 2012. Net interest income fell to NIS 539 million for the second quarter from NIS 555 million for the corresponding quarter, despite a reduction in the expense for credit losses to NIS 12 million (0.13 percent of credit) from NIS 21 million (0.16 percent of credit). However, non-interest income rose to NIS 417 million for the second quarter, including NIS 330 million in commissions, from NIS 347 million for the corresponding quarter. Problem loans totaled NIS 2.6 billion at the end of June, down 4.8 percent from a year earlier.Net profit rose文件倉5.7 to NIS 149 million (NIS 1.49 per share) for the second quarter from NIS 141 million for the corresponding quarter. The return on equity rose to an annualized 9.2 percent for the second quarter.The core (Tier-1) capital adequacy ratio rose to 9.82 percent for the second quarter from 9.65 percent for the corresponding quarter, after the bank distributed a NIS 200 million dividend. It estimates the core capital ratio in accordance with Basel III rules at 9.63 percent.Net credit to the public rose 1 percent to NIS 67.5 billion at the end of June from NIS 66.8 billion a year earlier, but deposits from the public fell 0.6 percent to NIS 82.5 billion from NIS 83 billion.Copyright: ___ (c)2013 the Globes (Tel Aviv, Israel) Visit the Globes (Tel Aviv, Israel) at .globes.co.il/serveen/globes/nodeview.asp?fid=942 Distributed by MCT Information Services存倉