First International Bank of Israel Ltd.

First International Bank of Israel Ltd., commonly known as FIBI or the First International Bank of Israel, is an Israeli banking group headquartered in Tel Aviv. The institution was established in 1972 after Israel's finance minister Pinchas Sapir approved the consolidation of several smaller banks. It developed as a commercial bank with a customer base spanning large companies, other businesses and retail consumers, while also maintaining specialist operations in areas such as private banking and services for defined community or professional groups. FIBI's history differs from that of several other major Israeli banks. During the Israeli bank stock crisis of the early 1980s, the bank was not involved in the crisis and was consequently the only prominent Israeli bank that was not nationalized as part of the government's response. The bank subsequently expanded its international reach, opening a London branch in 1981 and a Zurich branch in 1984. For many years it was also distinguished by offering customers complete banking documentation in English, a feature that supported its international and English-speaking clientele. In the 1980s, Edmond Safra obtained control of FIBI through his distant cousin Jacques Nasser. Following Safra's death, the Safra Group progressively disposed of its Israeli business interests. By 2010, the FIBI Holding Company was identified as the bank's largest shareholder, with the Bino-Liberman Group as its largest shareholder; Israel Discount Bank also held a significant shareholding block. Ownership and control information may have changed since that period and is therefore not stated here as current. The group expanded its domestic banking portfolio through acquisitions and affiliated institutions. In 2006 it acquired a 68 percent interest in Bank Otsar Ha-Hayal for NIS 702 million. Its banking family has also included Bank Massad, jointly held with Israel's teachers' trade union; U-Bank Israel, associated with private banking; and Poaley Agudat Israel Bank, known as PAGI, which principally served the Jewish Orthodox community. These businesses gave the group exposure to different customer segments beyond its core commercial banking franchise. FIBI has also operated outside Israel. In 2015, Tungsten Corporation plc acquired the bank's United Kingdom division for £30 million, marking a change in the group's British activities. In Israel, the company is traded on the Tel Aviv Stock Exchange under the symbol FIBI and has been included in the Tel Aviv 35 Index. Public descriptions of its commercial base emphasize large corporate clients alongside end-market consumers, suggesting a positioning that combines corporate banking scale with broad retail and specialist services. The bank has faced public scrutiny over its alleged connections to Israeli settlement-related economic activity. In February 2020, the United Nations Office of the High Commissioner for Human Rights published a database naming companies it said were involved in activities connected with Israeli settlements in the West Bank, including East Jerusalem, and the Golan Heights. FIBI was included in that database in connection with banking and financial services. In July 2021, Norway's Kommunal Landspensjonskasse pension fund announced that it would divest from FIBI and other companies identified in the UN database. These actions generated reputational and responsible-investment controversy but did not establish that the bank was defunct or withdrawn from the Israeli market. First International Bank of Israel, commonly known as FIBI, is an Israeli commercial banking brand established in 1972. The bank is headquartered in Tel Aviv and operates primarily in the Israeli market. Its stated business scope covers services for individuals and businesses, including retail banking, corporate banking, capital-markets activities, and wealth-management or investment services. The available reference material identifies FIBI as one of Israel’s major commercial banks and describes its activities as being delivered through branches and affiliated or subsidiary operations. Specific information about its ownership structure, current executive leadership, detailed subsidiary portfolio, branch count, financial performance, and recent strategic developments is not established by the supplied sources. Accordingly, this dossier records the bank’s broad market role and service categories without adding unsupported quantitative or historical claims. The group expanded its domestic banking portfolio through acquisitions and affiliated institutions. In 2006 it acquired a 68 percent interest in Bank Otsar Ha-Hayal for NIS 702 million. Its banking family has also included Bank Massad, jointly held with Israel's teachers' trade union; U-Bank Israel, associated with private banking; and Poaley Agudat Israel Bank (PAGI), which mainly served the Jewish Orthodox community. These operations allowed FIBI to address retail, private, professional and community banking niches in addition to its commercial franchise. First International Bank of Israel, commonly known in Israel as the International Bank or HaBank HaBeinleumi, is an Israeli banking group headquartered in Tel Aviv. Its business serves both large corporate customers and consumers, with activities spanning retail banking, commercial and corporate banking, investment and capital-markets services, private banking, and wealth management. The bank is listed on the Tel Aviv Stock Exchange under the symbol FIBI and is included in the Tel Aviv 35 Index. The institution was created in the early 1970s after Israel’s finance minister, Pinchas Sapir, approved the consolidation of several smaller banks. Its development took place against the background of a highly concentrated Israeli banking sector. During the 1980s, Edmond Safra acquired control through his relative Jacques Nasser. Following Safra’s death, the Safra Group disposed of its Israeli business interests. Ownership subsequently became associated with FIBI Holding Company Ltd, whose principal shareholder was identified as the Bino-Liberman Group, while Israel Discount Bank held a significant shareholding block. FIBI expanded beyond its domestic base during the 1980s, opening a London branch in 1981 and a Zürich branch in 1984. These operations supported the bank’s international and cross-border offering, although its principal commercial base remained Israel. In 2006, the bank acquired a 68 percent interest in Bank Otsar Ha-Hayal for NIS 702 million, broadening its position in areas connected with retail, institutional, and military-related banking customers. The group has also included Bank Massad, U-Bank Israel, and Poaley Agudat Israel Bank, each associated with a particular customer segment or banking specialization. The bank is notable in Israeli financial history because it was not involved in the country’s early-1980s bank stock crisis. It consequently avoided the nationalization that affected several prominent Israeli banks after the crisis. For many years, it was also distinguished by its willingness to provide complete banking paperwork in English, an accommodation relevant to international customers and English-speaking residents. FIBI’s international structure later changed. In 2015, Tungsten Corporation plc acquired the bank’s United Kingdom division for £30 million, reducing the scope of the group’s direct UK operations. In Israel, the bank continues to operate as a full-service financial institution with a commercial emphasis, serving businesses, households, investors, and affluent clients. Its public profile has also been affected by debate concerning Israeli settlement-related financial activity. In 2020, the United Nations included the bank in a database of companies it said were involved in services or financial operations supporting settlements in the occupied West Bank, East Jerusalem, and the Golan Heights. The bank was subsequently among entities from which Norway’s Kommunal Landspensjonskasse announced divestment in 2021. The bank has faced public scrutiny over alleged economic activity linked to Israeli settlements. In February 2020, the Office of the United Nations High Commissioner for Human Rights published a database listing companies it said were involved in activities supporting the maintenance or development of Israeli settlements in the West Bank, including East Jerusalem, and the Golan Heights. FIBI was included in the database in relation to banking and financial services. In July 2021, Norway's Kommunal Landspensjonskasse pension fund announced it would divest from FIBI and other companies identified in the UN database. These actions generated reputational and responsible-investment controversy, but did not establish that the bank had failed or exited the Israeli market. Separately, Reuters reported a decline in first-quarter profit in 2024 while noting the bank's assessment that it was well positioned during wartime conditions.

First International Bank of Israel was formed in 1972 following a consolidation of several smaller Israeli banks. The merger was approved by Pinchas Sapir, who was serving as Israel's finance minister. The resulting institution entered the Israeli banking market as a commercial bank with activity serving both business customers and consumers. The bank's ownership changed substantially during the 1980s. Edmond Safra acquired control through his distant cousin Jacques Nasser. FIBI's subsequent history remained associated with the wider Safra business interests in Israel until the Safra Group sold those interests after Safra's death. Later ownership descriptions identified FIBI Holding Company as the largest shareholder, with the Bino-Liberman Group as its largest shareholder and Israel Discount Bank holding a significant block. Those descriptions relate particularly to the period around 2010 and should not automatically be treated as current ownership data. FIBI expanded internationally in the early part of its history. It opened a branch in London in 1981 and another in Zurich in 1984. The bank became known for providing complete documentation in English, which distinguished it from many Israeli banking alternatives and reflected its engagement with internationally oriented customers. Despite the severe Israeli bank stock crisis of the early 1980s, FIBI was not involved in that crisis. It was consequently the only prominent Israeli bank that was not nationalized as a consequence of the government's intervention. The group later broadened its domestic structure through affiliated and acquired institutions. In 2006, FIBI purchased a 68 percent interest in Bank Otsar Ha-Hayal for NIS 702 million. Other entities associated with the group included Bank Massad, jointly owned with Israel's teachers' trade union; U-Bank Israel, which specialized in private banking; and Poaley Agudat Israel Bank, or PAGI, whose principal customer base was the Jewish Orthodox community. These operations allowed FIBI to address retail, private, professional and community banking niches in addition to its commercial franchise. The bank's international business was subsequently reshaped. In 2015, Tungsten Corporation plc acquired FIBI's United Kingdom division for £30 million. FIBI continued as an Israeli publicly traded banking group, listed on the Tel Aviv Stock Exchange under the ticker FIBI and included in the Tel Aviv 35 Index. In the 2020s, the bank attracted controversy related to settlement-linked financial activity. A United Nations database published in February 2020 listed FIBI among companies described as contributing to the maintenance or development of Israeli settlements in the West Bank, including East Jerusalem, and the Golan Heights. In July 2021, Kommunal Landspensjonskasse, a major Norwegian pension fund, said it would divest from FIBI along with other entities named in the database. These events became part of the bank's public reputational record. The bank remains an active Israeli financial institution, with reported activity spanning corporate and consumer banking. First International Bank of Israel was established in 1972 as an Israeli banking institution. The supplied material provides limited detail on the circumstances of its founding, its early development, and subsequent ownership or organizational changes. It does, however, identify the bank as a major Israeli commercial bank headquartered in Tel Aviv and describe a broad service model spanning retail banking, corporate banking, capital markets, and wealth management. This range places FIBI within the full-service segment of Israel’s banking industry rather than in a narrowly specialized financial-services niche. The bank serves both individual and corporate customers and uses branches together with subsidiary or affiliated operations to deliver its services. The available material does not document specific mergers, acquisitions, product generations, leadership transitions, campaigns, scandals, or major strategic decisions. It also does not provide reliable current figures for assets, revenue, employees, branch locations, customer numbers, or market share. Those omissions are material for a complete institutional history, so this entry intentionally limits its historical narrative to the establishment date, location, market, and documented areas of activity. First International Bank of Israel was established in the early 1970s following the approval of Israeli finance minister Pinchas Sapir for a merger of several smaller banks. The consolidation created a new banking institution at a time when Israel’s financial system was dominated by a limited number of large banks and subject to substantial government influence. The bank’s ownership changed materially during the 1980s, when Edmond Safra acquired control through Jacques Nasser. Safra’s ownership connected the Israeli bank with the wider Safra financial sphere. After Safra’s death, the Safra Group sold its Israeli interests. By 2010, FIBI Holding Company Ltd was identified as the bank’s largest shareholder, with the Bino-Liberman Group as its largest shareholder; Israel Discount Bank also held a significant block of shares. FIBI developed an international presence during the 1980s. It opened a branch in London in 1981 and another in Zürich in 1984. These locations complemented its Israeli business and supported international banking relationships. The bank was also distinguished by its survival of the Israeli bank stock crisis of the early 1980s. Unlike several other prominent Israeli banks, it was not involved in that crisis and was therefore not nationalized as a consequence. Expansion through acquisitions became another part of the bank’s history. In 2006, FIBI purchased a 68 percent interest in Bank Otsar Ha-Hayal for NIS 702 million. The group also developed or maintained interests in Bank Massad, U-Bank Israel, and Poaley Agudat Israel Bank. These businesses gave the group exposure to different segments, including teachers, private-banking clients, and the Jewish Orthodox community. For many years, FIBI was known for making complete banking documentation available in English, a feature that distinguished it from other Israeli banks and supported service to international and English-speaking customers. Its direct international footprint later narrowed when Tungsten Corporation plc bought the bank’s UK division for £30 million in 2015. The bank remains a publicly traded Israeli financial institution, with a business model combining corporate banking and consumer-facing services. Its activities include commercial lending, retail banking, investment services, capital markets, private banking, and wealth management. In the 2020s, its public and investor profile also included controversy over settlement-related financial activity. The United Nations listed the bank in a database of companies associated with services or financial operations connected to Israeli settlements, and Norway’s Kommunal Landspensjonskasse later announced divestment. Separately, Reuters reported a decline in first-quarter profit in 2024 while noting the bank’s assessment that it was well positioned during wartime conditions. First International Bank of Israel was formed in 1972 following a consolidation of several smaller Israeli banks. The merger was approved by Pinchas Sapir, who was serving as Israel's finance minister. The consolidation created a new banking institution at a time when Israel's financial system was dominated by a limited number of large banks and subject to substantial government influence. The resulting institution entered the Israeli banking market as a commercial bank with activity serving both business customers and consumers.

• 2021

  Norwegian pension fund divestment

  [1]First International Bank of Israelen.wikipedia.org

  Kommunal Landspensjonskasse announced divestment from FIBI in connection with the bank's inclusion in the UN database.

• 2020

  Named in United Nations settlement-related database

  [1]First International Bank of Israelen.wikipedia.org

  The United Nations listed the bank among companies it associated with services or financial operations connected to Israeli settlements.

• 2015

  United Kingdom division sold

  [1]First International Bank of Israelen.wikipedia.org

  Tungsten Corporation plc acquired FIBI's United Kingdom division for £30 million.

• 2015

  UK division sold to Tungsten Corporation

  [1]First International Bank of Israelen.wikipedia.org

  Tungsten Corporation plc acquired First International Bank’s UK division for £30 million.

• 2006

  Acquisition of Bank Otsar Ha-Hayal stake

  [1]First International Bank of Israelen.wikipedia.org

  FIBI acquired a 68 percent interest in Bank Otsar Ha-Hayal for NIS 702 million.

• 1984

  Zurich branch opened

  [1]First International Bank of Israelen.wikipedia.org

  The bank expanded its international network with a branch in Zürich.

• 1981

  London branch opened

  [1]First International Bank of Israelen.wikipedia.org

  First International Bank opened a branch in London as part of its international expansion.

• 1972

  Bank established through consolidation

  [1]First International Bank of Israelen.wikipedia.org

  First International Bank of Israel was created after approval by Finance Minister Pinchas Sapir to merge several smaller banks.

• Formation through bank consolidation

  [1]First International Bank of Israelen.wikipedia.org

  The bank was formed in the early 1970s after approval by Finance Minister Pinchas Sapir for the merger of several smaller banks.

An Israeli commercial banking group combining a corporate customer base with retail, private-banking and specialist community franchises. Its international heritage, English-language documentation and historical London and Zurich operations supported cross-border and internationally oriented customers. A full-service Israeli banking group with a strong corporate-banking base and additional retail, investment, private-banking, and wealth-management capabilities.

• Corporate banking

  Commercial banking

  FIBI's commercial franchise primarily serves large corporate clients and other business customers. Its banking scope includes relationship-based accounts, credit and financing services, deposits, payments and other standard services associated with a full-service commercial bank. Commercial banking is central to FIBI's business base and differentiates it from a purely consumer-focused institution. Commercial banking is central to FIBI’s business base. The bank serves large corporate clients and other businesses through lending, account services, financing, and related banking support. The corporate orientation differentiates it from a purely consumer-focused institution.

• Consumer banking

  Retail banking

  The bank also serves individual consumers through personal accounts, deposits, payment services and consumer finance. Public descriptions identify end-market consumers as an important part of the group's commercial base. Retail banking forms one part of a broader model that also emphasizes corporate and commercial customers. Services for individual customers, described in the available material as part of the bank’s broad commercial-banking offering. The supplied sources do not specify the complete account, payment, deposit, lending, or digital-banking range. The bank provides consumer-facing banking services in Israel, including deposit accounts, everyday transaction services, personal credit, and other household financial products. Retail banking forms one part of a broader model that also emphasizes corporate and commercial customers.

• Private banking

  U-Bank Israel

  U-Bank Israel is associated with the group's private-banking activities. The business has been described as specializing in services for private-banking customers, although detailed current product information is not provided in the supplied sources.

• Community and professional banking

  Bank Massad

  Bank Massad has been identified as a FIBI-associated institution jointly owned with Israel's teachers' trade union. It represents the group's presence in a professionally defined banking segment.

• Community banking

  Poaley Agudat Israel Bank (PAGI)

  PAGI has been described as serving mainly the Jewish Orthodox community. Its inclusion in the group reflects FIBI's historical use of specialist banking brands to reach distinct social and religious customer segments.

• Retail and specialist banking · 2006

  Bank Otsar Ha-Hayal

  Bank Otsar Ha-Hayal became associated with FIBI after the group acquired a 68 percent interest in 2006. The supplied material does not provide a current description of its standalone product portfolio.

• Banking

  Corporate banking

  Banking services for business and corporate customers. The reference material identifies corporate banking as a core activity but does not provide a detailed breakdown of lending, treasury, trade-finance, or cash-management products.

• Financial services

  Capital markets and investment services

  Capital-markets and related investment services included within FIBI's business scope. No specific securities, underwriting, brokerage, research, or trading products are confirmed by the supplied material. FIBI offers capital-markets and investment-related services as part of its full-service banking proposition. These activities complement its deposit-taking and lending businesses and provide services to investors, companies, and other market participants. Capital-markets and related investment services included within FIBI's business scope. These activities complement its deposit-taking and lending businesses and provide services to investors, companies, and other market participants. No specific securities, underwriting, brokerage, research, or trading products are confirmed by the supplied material.

• Wealth management

  Wealth-management and investment services

  Investment and wealth-management services for eligible individual or institutional customers. The group serves affluent and private-banking customers through wealth-management and investment services. The available references do not establish the precise advisory, portfolio-management, or investment-product structure.

• Wealth management

  Private banking and wealth management

  The group serves affluent and private-banking customers through wealth-management and investment services. U-Bank Israel has been associated with the group’s private-banking specialization, giving FIBI a dedicated presence in this segment.

• Specialty banking

  Specialized subsidiary banking

  The wider group has included specialized institutions such as Bank Massad, Bank Otsar Ha-Hayal, U-Bank Israel, and Poaley Agudat Israel Bank. Their stated or historical roles include serving teachers, private-banking customers, and the Jewish Orthodox community.

• 2021

  Norwegian pension fund divestment

  Kommunal Landspensjonskasse announced that it would divest from FIBI and other companies named in the UN database because of their alleged links to Israeli settlements. The event extended the reputational and investment controversy surrounding the bank.

  Source

• 2021

  Divestment by Kommunal Landspensjonskasse

  Norway’s largest pension fund, Kommunal Landspensjonskasse, announced that it would divest from First International Bank along with other entities identified in the United Nations database. The action reflected the fund’s assessment of the bank’s alleged links to settlement-related activity.

  Source

• 2020

  United Nations settlement-related listing

  The United Nations published a database of companies it said were involved in activities supporting the maintenance or development of Israeli settlements in the West Bank, including East Jerusalem, and the Golan Heights. FIBI was included in relation to banking and financial operations. The listing generated criticism and responsible-investment scrutiny. The United Nations included First International Bank in a database concerning companies it said were involved in services, utilities, or banking and financial operations supporting the maintenance or expansion of Israeli settlements in the West Bank, East Jerusalem, and the Golan Heights. The listing generated reputational and responsible-investment scrutiny.

  Source

Read more

• 2015

  Sell United Kingdom divisionM&A

  Background

  FIBI reorganized its international business and exited ownership of its United Kingdom division.

  Action taken

  Tungsten Corporation plc acquired the United Kingdom division for £30 million.

  Aftermath

  The transaction changed the structure of FIBI's British operations while the group continued as an Israeli publicly traded bank. The sale narrowed FIBI’s direct international operating footprint while leaving Israel as its principal market.

  Sale consideration. £30 million (2015)

  Source

• 2006

  Acquire a controlling interest in Bank Otsar Ha-HayalM&A

  Background

  FIBI sought to expand its domestic banking group through ownership of a specialist banking institution.

  Action taken

  The bank acquired a 68 percent interest in Bank Otsar Ha-Hayal for NIS 702 million.

  Aftermath

  Bank Otsar Ha-Hayal became one of the institutions associated with FIBI's wider banking group. The transaction expanded FIBI’s subsidiary network and customer-segment coverage.

  Acquisition consideration. NIS 702 million (2006)

  Source

• 2021.02.17

  Reported2021.02.17

  First International Bank launches FibiPay digital wallet[5]以色列第一国际银行推出FibiPay数字钱包prnewswire.com

  First International Bank of Israel announced the launch of FibiPay, a digital wallet service that lets customers pay with supported credit cards from Android smartphones.

Read more

1. 1First International Bank of Israelen.wikipedia.org
2. 2Israel's First International Bank Q1 profit drops, says well positioned for wartimereuters.com
3. 3First International Bank of Israel official websitefibi.co.il
4. 4First International Bank of Israel official websitefibi.co.il
5. 5以色列第一国际银行推出FibiPay数字钱包prnewswire.com