Net earnings of the First International Bank Group for the third quarter of 2010 amounted to NIS 129 million, an increase of 50% compared with the second quarter and a decrease of 22.8% year-on-year. During the first nine months of the year, net earnings totaled NIS 344 million, a decrease of 17.3% year-on-year.
Return on equity
Return on equity amounted to 8.6% annualized in 2010 Q3 compared with 5.6% in the second quarter of the year and 11.5% in 2009 Q3. During the period January-September 2010 ROE reached 7.5% compared with 9.6% in the same period last year and 9.7% in the whole of 2009.
Credit to the public
Credit to the public totaled NIS 61,850 million, an increase of 3.0% year-on-year and 2.6% compared with the end of 2009. Consumer credit (credit to the households segment) expanded by 8.7% in the first nine months of the year.
Deposits from the public
Deposits from the public totaled NIS 78,425 million, a decrease of 2.9% year-on-year and 5.3% compared with the end of 2009.
The capital adequacy ratio
The ratio of capital to risk assets, calculated in accordance with the Basel II directives, amounted to 12.78% on September 30 2010 compared with 13.88% at the end of 2009. The ratio of Tier 1 capital reached 8.31% compared with 9.21% at the end of 2009. The decrease derived mainly from the dividend that was paid on September 6 2010.