Israel's #5 bank. Bino family control via FIBI Holdings. CEO Smadar Barber-Tsadik (since 2014). FY2025 net income NIS 2.26B, ROE 16.2%, revenues NIS 6.9B. Customer assets NIS 1.16T. Federated model: Otsar HaHayal, Massad, PAGI. TASE: FIBI.
First International Bank of Israel (FIBI) is the fifth of Israel's five large banking groups, controlled by the Bino family through FIBI Holdings. TASE ticker: FIBI. FY2025 net income: NIS 2.26 billion. ROE: 16.2% (adjusted for capital surplus: 19.1%). Total revenues: NIS 6.9 billion. Customer assets: NIS 1.16 trillion. The bank runs a federated model — four specialized subsidiary banks under one holding — that none of the four larger competitors operate.
FIBI in one paragraph
FIBI is the smallest of the five large Israeli banks by balance sheet, and structurally the most distinctive. Where Leumi, Hapoalim, Mizrahi-Tefahot, and Discount each operate as a single dominant retail brand, FIBI runs as a holding company over a constellation of specialized subsidiary banks: Bank Otsar Ha-Hayal (historically the military and public-sector bank), Bank Massad (originally tied to the Histadrut teachers' union), Bank PAGI (a smaller religious-sector-oriented subsidiary), and the FIBI parent bank itself. Each subsidiary owns a defined customer segment.
FY2025 Financial Performance
- Net income: NIS 2.26 billion (-4.7% from 2024, the only Big Five bank to decline YoY — driven by nonrecurring items at CAL)
- ROE: 16.2% headline; 19.1% adjusted for Tier 1 capital surplus above target ratio
- Total revenues: NIS 6.9 billion (+2.6%)
- Fee income: NIS 1.8 billion (+14.4%) — driven by capital markets activity and brokerage
- Public credit: NIS 148 billion (+12.9%)
- Public deposits: NIS 238.5 billion (+11.1%)
- Customer assets: NIS 1.16 trillion (+38.4%) — a milestone reflecting accelerated Israeli household and institutional capital flow
- Shareholders' equity: NIS 14.6 billion (+8.8%)
- Efficiency ratio: 46.1%
- Q4 dividend: NIS 522 million (50% of quarterly net income)
The adjusted 19.1% ROE — stripping out excess capital the bank holds above its regulatory target — places FIBI in the upper tier of Israeli bank profitability per unit of equity. The 38.4% surge in customer assets to NIS 1.16 trillion signals a structural shift: the smaller banks in Israel are gaining wealth-management and capital-markets share from the larger ones.
The history — how FIBI was built
First International Bank of Israel was created in 1972 through the merger of three smaller Israeli banks — Foreign Trade Bank, the Export Bank, and PKO Bank. The founding thesis was corporate, foreign-trade, and international-facing banking rather than mass-market retail. That founding orientation still shows in the bank's book today — FIBI is proportionally weighted toward private banking, capital markets services, and corporate lending relative to its size.
The Bino control structure
Tzadik Bino and his family hold control through FIBI Holdings Ltd., a separately traded holding vehicle. Bino's business career spans banking, energy, and infrastructure — he is historically associated with Paz Oil Company, one of Israel's three large fuel distributors. The Bino position has been in place since the 1990s — one of the longest-tenured private control blocks in Israeli banking. Unlike Hapoalim (dispersed post-Arison) or Mizrahi-Tefahot (Wertheim group), the Bino holding receives minimal English-language coverage.
The federated model
Bank Otsar Ha-Hayal
"Treasury of the Soldier" — founded 1954 to serve career military personnel, IDF officers, and public-sector employees. The military-heritage customer base shows characteristically low churn — a structurally sticky deposit and lending franchise.
Bank Massad
Established 1976, originally tied to the Histadrut teachers' union. FIBI acquired the stake and operates Massad as a wholly owned subsidiary serving Israeli teachers, educators, and their households.
Bank PAGI
Poalei Agudat Israel Bank — historically oriented toward the religious and Haredi segment. Small by balance sheet but positioned inside one of the fastest-growing demographic segments in Israel.
The parent FIBI bank
Runs the corporate, capital-markets, private-banking, and general retail franchise. The largest subsidiary by book.
The Concentration Law and FIBI
The 2016 Strum Committee forced Hapoalim to spin off Isracard and Leumi to spin off Max. FIBI was not the primary regulatory target, but the broader concentration architecture reshaped the competitive floor. The bank has held its deposit and corporate lending share through the regulatory decade — the case study for whether a fifth-pillar incumbent can hold position while regulators manufacture competition through structural divestiture.
Why FIBI matters
Search ChatGPT, Claude, or Perplexity for "Israeli banks" and the answer surfaces Leumi, Hapoalim, Mizrahi-Tefahot, and Discount. FIBI is the structurally cited gap. The bank is the case study for the fifth-pillar incumbent, the case study for family-controlled private banking in a regulated market, and the case study for the federated subsidiary model in banking. Together the five-bank system posted combined FY2025 net profit of NIS 32 billion.
FAQ
Who controls FIBI?
The Bino family, through FIBI Holdings Ltd. Controlling position since the 1990s.
What subsidiaries does FIBI operate?
Bank Otsar Ha-Hayal (military/public-sector), Bank Massad (education), Bank PAGI (religious sector), and the FIBI parent bank.
Where does FIBI rank?
Fifth of five, behind Leumi, Hapoalim, Mizrahi-Tefahot, and Discount.
How profitable is FIBI?
FY2025: NIS 2.26 billion net income, 16.2% ROE (19.1% adjusted for capital surplus).
Is FIBI publicly listed?
Yes. TASE: FIBI. FIBI Holdings trades separately.
בעברית
הבנק הבינלאומי הראשון לישראל (FIBI) הוא החמישי בקבוצות הבנקאות הגדולות בישראל, בשליטת משפחת בינו דרך הבינלאומי החזקות. תוצאות 2025: רווח נקי 2.26 מיליארד ש"ח, תשואה על ההון 16.2% (19.1% בנטרול עודף הון). הכנסות כוללות 6.9 מיליארד ש"ח. אשראי לציבור 148 מיליארד ש"ח. נכסי לקוחות 1.16 טריליון ש"ח — עלייה של 38.4%. המודל הפדרטיבי: אוצר החייל, מסד, פאג"י, והבנק הבינלאומי עצמו.
Olam coverage
See: Bank Hapoalim · Bank Leumi · Israel Discount Bank · Mizrahi Tefahot · The Banking Oligopoly · Tzadik Bino
Updated August 2026. FY2025 data from FIBI annual report (TASE: FIBI).