First International Bank of Israel

The First International Bank of Israel (Hebrew: הבנק הבינלאומי‎, HaBank HaBeinleumi) is an Israel-based bank. Its commercial base consists primarily of large corporate clients as well as end-market consumers.[2]

First International Bank of Israel, Ltd.
TypePublic
TASE: FIBI
IndustryBanking
Founded4 August 1970
Headquarters
Tel Aviv
,
Israel
Key people
Smadar Barber-Tsadik, CEO
₪577 million (2012)
Total equity₪5787.0 million (2010)
Number of employees
5,173
ParentFIBI Holdings Ltd.
Websitewww.fibi.co.il
Footnotes / references
[1]

History

First International Bank of Israel was founded in 1972 when then Israeli Finance Minister Pinchas Sapir approved the merger of several smaller banks into the former.[3]

Edmond Safra (through his distant cousin Jacques Nasser) acquired control of FIBI in the 1980s: after Edmond Safra's death, the Safra Group sold off its business interests in Israel. As of 2010, FIBI's largest current shareholder is the FIBI Holding Company Ltd, whose largest shareholder is the Bino-Liberman Group; in addition, the Israel Discount Bank holds a significant block of shares.[2]

The bank opened branches in London in 1981, and in Zurich in 1984. In 2006 it acquired a 68% interest in Bank Otsar Ha-Hayal for NIS 702 million. It is notable for being the only major bank in Israel which was not involved in the bank stock crisis in Israel in the early-1980s and as such was the only prominent bank in the country not nationalized as result of the crisis.[2]

For a long time, FIBI was unique among Israeli banks in offering complete paperwork in English.

In 2015, Tungsten Corporation plc acquired FIBI's UK division for £30 million.[4]

Subsidiaries

See also

References
  1. Katsovitch, Guy (20 March 2013). "First International Bank profit jumps 20% in 2012". Globes. Retrieved 26 March 2013.
  2. First International Bank of Israel (FIBI) - Profile - Dun's 100 Archived 2013-10-21 at the Wayback Machine Dun & Bradstreet
  3. First International Bank of Israel, Ltd. - Company Profile BusinessWeek
  4. Irit Avissar; Ron Stein (10 July 2014). "Tungsten Corp. Acquires First International Bank Of Israel UK For £30 Million". Jewishbusiness.com. Retrieved 24 June 2020.
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