First International Bank has presented financial statements that show growth across all areas of its core operation. In 2022, credit to the public increased by 14.7% to NIS 117,156 million, with business credit growing by 22.7% and credit to households and residential loans growing by 7.6%. Net deposits by the public grew by 9.7% to NIS 168,269 million. Financing income from current operations in 2022 grew to NIS 4,016 million, an increase of 41.2% compared to 2021, while income from commissions increased by 3.1%.
The net income for 2022 of the First International Bank Group amounted to NIS 1,667 million, with a growth of 18.6% compared to 2021. Return on equity amounted to 16.6%. Credit loss expenses amounted to NIS 123 million, compared to income of 216 million in 2021, with expenses of NIS 168 million recorded in 2022 due to an increase in the collective allowance for credit losses.
Efficiency measures were invested in and in 2022, the efficiency ratio amounted to 50.9%, a significant improvement from 58.3% in 2021. The Bank continued to invest in automation and digital innovation, and cooperation with fintech companies. The capital attributed to the Bank’s shareholders reached NIS 10,559 million, with the Tier 1 equity capital ratio at 10.42%.
The Bank’s CEO, Smadar Berber-Tsadik, stated that the financial statements reflect growth and greater efficiency while maintaining high financial stability. The Bank is focusing on its corporate strategy for the years 2023 to 2025, with an emphasis on growth and providing customers with added-value services in digital and technological fields. The Bank is placing important emphasis on leading with efficiency measures and exposing itself to new areas, while leveraging data to provide an optimal and personal service to customers.
