{"url":"https://newsforagent.com/news/2026-11-15/fibi-holding-third-quarter-profit-drop","markdown_url":"https://newsforagent.com/news/2026-11-15/fibi-holding-third-quarter-profit-drop.md","title":"FIBI Holding Posts 12.6% Drop in Quarterly Profit","headline":"FIBI Holding's Third-Quarter Net Profit Falls 12.6% to NIS 581 Million","description":"FIBI Holding's third-quarter net profit fell 12.6% to NIS 581 million as the Smotrich bank levy and rate cuts weighed.","section":"Earnings & Results","published_at":"2026-11-15T10:40:20+00:00","modified_at":"2026-11-15T10:40:20+00:00","author":"News Desk","key_takeaways":["FIBI Holding reported third-quarter net profit of NIS 581 million, down 12.6% from a year earlier.","The bank declared a cash dividend of NIS 254 million despite the profit decline.","Credit expanded 21.9% to NIS 172.4 billion and client assets rose 16.9% to NIS 1.26 trillion."],"companies":[{"name":"FIBI Holding","is_primary":true,"profile_url":"https://akta.pro/company-profiles/000ro6l/fibi-holding","website":"http://www.fibi.co.il"}],"source":{"publisher":"The Jerusalem Post","title":"FIBI reports 12.6% drop in third-quarter net profit","url":"https://www.jpost.com/business-and-innovation/banking-and-finance/article-914914"},"other_sources":[],"tags":["Earnings & Results","FIBI Holding"],"body_markdown":"First International Bank of Israel reported a 12.6% drop in third-quarter net profit to NIS 581 million and declared a cash dividend of NIS 254 million, [The Jerusalem Post](https://www.jpost.com/business-and-innovation/banking-and-finance/article-914914) reported on November 15, 2026. The bank, known as FIBI, opened Israel's third-quarter banking earnings season with the decline.\n\n## FIBI's Profit Slip and the Smotrich Levy\n\nFIBI is controlled by Zadik Bino and led by CEO Eli Cohen and chairman Ron Levkovich. The bank attributes part of the earnings decline to the \"Smotrich tax,\" a special levy imposed across the banking sector over the objections of the Bank of Israel in response to what was termed \"excess profitability.\" FIBI estimates its 2026 tax burden under the levy at between NIS 210 million and NIS 240 million, or an average quarterly drag of NIS 56 million at the annual midpoint of NIS 225 million.\n\nNet revenues fell 4.7% since the start of 2026 to NIS 5.1 billion. The bank cited a lower Consumer Price Index, Bank of Israel interest rate cuts that narrowed financing margins, and the weakening of the US dollar against the shekel. Over the first nine months of the year, net profit declined 10.1% to NIS 1.57 billion, a 14.3% return on equity on shareholders' equity of NIS 14.5 billion.\n\nCredit rose 21.9% to NIS 172.4 billion, driven mostly by financial services, while the bank is beginning to expand in standard commercial lending to the business sector. Public deposits grew 4.6% to NIS 243.8 billion, client assets rose 16.9% to NIS 1.26 trillion, and fee and commission income increased 6.1% to NIS 1.4 billion. Operating expenses reached NIS 2.4 billion, largely on marketing tied to capital market activity, lifting the efficiency ratio to 48.1% for the quarter.\n\nCohen said: \"We are in a challenging period marked by uncertainty, macroeconomic shifts, and geopolitical risks. Against this backdrop, the bank is operating while demonstrating financial resilience and double-digit growth in credit and client assets.\"\n\n## FIBI Holding's Scale in Company Records\n\n[FIBI Holding](https://akta.pro/company-profiles/000ro6l/fibi-holding) is an Israel-domiciled entity founded in 1972 and headquartered in Tel Aviv, with a headcount range of 1,001 to 5,000, according to akta.pro [company records](https://akta.pro/company-data). The same records give a revenue estimate of $1 billion to $5 billion and a valuation estimate of $5 billion to $10 billion.\n\n## When Israel's Other Banks Report\n\nThe Jerusalem Post reported that the profitability decline is expected to characterize the financial reports of Israel's other major banks, which are scheduled for release soon.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}