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{{Short description|Israeli bank founded in 1970}} |
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{{unreferenced|date=April 2010}} |
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{{Infobox company |
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'''The First International Bank of Israel''' ({{TLV|FIBI}}) is an [[Israel]]i [[bank]] founded in 1972 through the merger of several smaller banks. It is the fifth largest bank in Israel. Its commercial base consists primarily of large corporate clients as well as ordinary citizens. |
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| logo = First International Bank of Israel logo.svg |
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| image = 31.03.09 Tel Aviv 066 Beinleumi Tower 2.JPG |
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| image_size = 220px |
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| image_caption = [[First International Bank Tower]] in [[Tel Aviv]] |
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| type = Public |
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| traded_as = |
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| fate = |
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| predecessor = |
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| successor = |
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| foundation = 4 August 1970 |
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| founder = |
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| defunct = <!-- {{End date|YYYY|MM|DD}} --> |
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| location_city = [[Tel Aviv]] |
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| location_country = [[Israel]] |
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| location = |
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| locations = |
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| area_served = |
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| key_people = Eli Cohen, CEO |
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| industry = [[Banking]] |
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| products = |
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| services = |
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| revenue = |
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| operating_income = |
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| net_income = {{Increase}} [[Israeli new shekel|₪]]577 million <small>(2012)</small> |
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| aum = <!-- Only used with financial services companies --> |
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| assets = |
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| equity = [[New Israeli Shekel|₪]]5787.0 million (2010) |
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| owner = |
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| num_employees = 5,173 |
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| parent = FIBI Holdings Ltd. |
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| divisions = |
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| subsid = |
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| homepage = [http://www.fibi.co.il www.fibi.co.il] |
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| footnotes = <ref name=katsovich>{{cite news|last=Katsovitch|first=Guy|title=First International Bank profit jumps 20% in 2012|url=http://www.globes.co.il/serveen/globes/docview.asp?did=1000831368&fid=1725|archive-url=https://archive.today/20130412223329/http://www.globes.co.il/serveen/globes/docview.asp?did=1000831368&fid=1725|url-status=dead|archive-date=April 12, 2013|access-date=26 March 2013|newspaper=[[Globes (newspaper)|Globes]]|date=20 March 2013}}</ref> |
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| intl = |
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}} |
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The '''First International Bank of Israel''' ({{lang-he|הבנק הבינלאומי|translit=HaBank HaBeinleumi}}) is an [[Israel]]-based [[bank]]. Its commercial base consists primarily of large corporate clients as well as end-market consumers.<ref name=dun>[http://duns100.dundb.co.il/ts.cgi?tsscript=comp_eng&duns=600009823 First International Bank of Israel (FIBI) - Profile - Dun's 100] {{Webarchive|url=https://web.archive.org/web/20131021035401/http://duns100.dundb.co.il/ts.cgi?tsscript=comp_eng&duns=600009823 |date=2013-10-21 }} [[Dun & Bradstreet]]</ref> |
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⚫ | [[Edmond Safra]] (through his |
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The company is traded in the [[Tel Aviv Stock Exchange]] under the symbol "FIBI", and is part of the [[TA-35 Index|Tel Aviv 35]] Index.<ref>{{Cite web |title=דף הבית - הבורסה לניירות ערך בתל אביב {{!}} אתר הבורסה |url=https://market.tase.co.il/he/market_data/security/763011/major_data |access-date=2024-05-05 |website=market.tase.co.il}}</ref> |
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⚫ | The bank opened branches in [[London]] in 1981, and in [[ |
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==History== |
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First International Bank of Israel was founded in the early 1970s when then Israeli Finance Minister [[Pinchas Sapir]] approved the merger of several smaller banks into the former.<ref>[https://archive.today/20120709222124/http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=FTIN:IT First International Bank of Israel, Ltd. - Company Profile] BusinessWeek{{dead link|date=September 2021}}</ref> |
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⚫ | [[Edmond Safra]] (through his distant cousin Jacques Nasser) acquired control of FIBI in the 1980s. After 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.<ref name=dun /> |
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⚫ | The bank opened branches in [[London]] in 1981, and in [[Zürich]] 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 (Israel 1983)|bank stock crisis]] in Israel in the early-1980s and as such was the only prominent bank in the country not [[Nationalization|nationalized]] as result of the crisis.<ref name=dun /> |
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In 2015, Tungsten Corporation plc acquired FIBI's UK division for £30 million.<ref>{{cite web|url=https://jewishbusinessnews.com/2014/06/10/tungsten-corp-acquires-first-international-bank-of-israel-uk-for-30-million/|title=Tungsten Corp. Acquires First International Bank Of Israel UK For £30 Million|website=Jewishbusiness.com|date=10 July 2014|author1=Irit Avissar|author2=Ron Stein|access-date=24 June 2020}}</ref> |
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==Subsidiaries== |
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* [[Bank Massad]] (51%) – jointly owned with Israel's teachers' [[trade union]] |
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* [[Bank Otsar Ha-Hayal]] |
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* [[U-Bank Israel]] – specializes in [[private banking]] |
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* Poaley Agudat Israel Bank (PAGI) – serving mainly the [[Orthodox Judaism|Jewish Orthodox]] community |
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==Criticism== |
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===Involvement in Israeli settlements=== |
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{{See also|List of companies operating in West Bank settlements}} |
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On 12 February 2020, the [[United Nations]] published a [[List of companies operating in West Bank settlements|database]] of 112 companies helping to further [[Israeli settlement]] activity in the [[West Bank]], including [[East Jerusalem]], as well as in the occupied [[Golan Heights]].<ref name=unlist_ohchr>{{cite news|date=12 February 2020|title=UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory|url=https://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=25542|work=[[Office of the United Nations High Commissioner for Human Rights]]|access-date=5 July 2021}}</ref> These settlements are considered [[International_law_and_Israeli_settlements|illegal under international law]].<ref name=unsc2334>{{cite news|date=23 December 2016|title=UN Security Council Resolution 2334, 2016 (S/RES/2334(2016))|url=https://undocs.org/S/RES/2334(2016)|work=[[United Nations Security Council]]|access-date=5 July 2021}}</ref> First International Bank of Israel was listed on the database on account of its "provision of services and utilities supporting the maintenance and existence of settlements" and "banking and financial operations helping to develop, expand or maintain settlements and their activities" in these occupied territories.<ref>{{cite web|url=https://reliefweb.int/report/occupied-palestinian-territory/database-all-business-enterprises-involved-certain-activities|title=Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71)|date=12 Feb 2020|publisher=UN OCHA|access-date=2021-09-12}}</ref> |
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On 5 July 2021, [[Norway]]'s largest pension fund [[Kommunal Landspensjonskasse]] said it would divest from First International Bank of Israel together with 15 other business entities implicated in the UN report for their links to Israeli settlements in the occupied West Bank.<ref>{{cite web|url=https://www.reuters.com/world/middle-east/nordic-fund-klp-excludes-16-companies-over-links-israeli-settlements-west-bank-2021-07-05/|title=Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank|first1=Gwladys|last1=Fouche|first2=Simon|last2=Jessop|date=5 July 2021|publisher=Reuters|access-date=2021-09-13}}</ref> |
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==See also== |
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{{Portal|Banks}} |
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* [[Economy of Israel]] |
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==References== |
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{{reflist}} |
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==External links== |
==External links== |
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*{{Official|http://www.fibi.co.il}} |
*{{Official website|http://www.fibi.co.il}} |
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{{Israeli banks}} |
{{Israeli banks}} |
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{{TA 100 companies}} |
{{TA 100 companies}} |
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{{Authority control}} |
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[[Category:Banks of Israel|The First International Bank of Israel]] |
[[Category:Banks of Israel|The First International Bank of Israel]] |
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[[Category:Banks established in 1972]] |
[[Category:Banks established in 1972]] |
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[[Category:1972 establishments in Israel]] |
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[[Category:Companies based in Tel Aviv]] |
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{{bank-stub}} |
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[[Category:Companies listed on the Tel Aviv Stock Exchange]] |
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[[Category:Companies in the TA-35 Index]] |
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[[he:הבנק הבינלאומי]] |
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⚫ |
Latest revision as of 05:40, 27 May 2024
![]() | |
Company type | Public |
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Industry | Banking |
Founded | 4 August 1970 |
Headquarters | , |
Key people | Eli Cohen, CEO |
![]() | |
Total equity | ₪5787.0 million (2010) |
Number of employees | 5,173 |
Parent | FIBI Holdings Ltd. |
Website | www.fibi.co.il |
Footnotes / references [1] |
The First International Bank of Israel (Hebrew: הבנק הבינלאומי, romanized: HaBank HaBeinleumi) is an Israel-based bank. Its commercial base consists primarily of large corporate clients as well as end-market consumers.[2]
The company is traded in the Tel Aviv Stock Exchange under the symbol "FIBI", and is part of the Tel Aviv 35 Index.[3]
History
First International Bank of Israel was founded in the early 1970s when then Israeli Finance Minister Pinchas Sapir approved the merger of several smaller banks into the former.[4]
Edmond Safra (through his distant cousin Jacques Nasser) acquired control of FIBI in the 1980s. After 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 Zürich 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.[5]
Subsidiaries
- Bank Massad (51%) – jointly owned with Israel's teachers' trade union
- Bank Otsar Ha-Hayal
- U-Bank Israel – specializes in private banking
- Poaley Agudat Israel Bank (PAGI) – serving mainly the Jewish Orthodox community
Criticism
Involvement in Israeli settlements
On 12 February 2020, the United Nations published a database of 112 companies helping to further Israeli settlement activity in the West Bank, including East Jerusalem, as well as in the occupied Golan Heights.[6] These settlements are considered illegal under international law.[7] First International Bank of Israel was listed on the database on account of its "provision of services and utilities supporting the maintenance and existence of settlements" and "banking and financial operations helping to develop, expand or maintain settlements and their activities" in these occupied territories.[8]
On 5 July 2021, Norway's largest pension fund Kommunal Landspensjonskasse said it would divest from First International Bank of Israel together with 15 other business entities implicated in the UN report for their links to Israeli settlements in the occupied West Bank.[9]
See also
References
- ^ Katsovitch, Guy (20 March 2013). "First International Bank profit jumps 20% in 2012". Globes. Archived from the original on April 12, 2013. Retrieved 26 March 2013.
- ^ a b c First International Bank of Israel (FIBI) - Profile - Dun's 100 Archived 2013-10-21 at the Wayback Machine Dun & Bradstreet
- ^ "דף הבית - הבורסה לניירות ערך בתל אביב | אתר הבורסה". market.tase.co.il. Retrieved 2024-05-05.
- ^ First International Bank of Israel, Ltd. - Company Profile BusinessWeek[dead link]
- ^ 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.
- ^ "UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory". Office of the United Nations High Commissioner for Human Rights. 12 February 2020. Retrieved 5 July 2021.
- ^ "UN Security Council Resolution 2334, 2016 (S/RES/2334(2016))". United Nations Security Council. 23 December 2016. Retrieved 5 July 2021.
- ^ "Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71)". UN OCHA. 12 Feb 2020. Retrieved 2021-09-12.
- ^ Fouche, Gwladys; Jessop, Simon (5 July 2021). "Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank". Reuters. Retrieved 2021-09-13.