First International Bank of Israel
- First International Bank of Israel
The First International Bank of Israel (FIBI) is an Israeli 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.
Edmond Safra (through his uncle Jacques Nasser) acquired control of FIBI in the 1980s: after Edmond Safra's death, the Safra Group sold off its business interests in Israel. As of 2006, FIBI's largest current shareholder is the P. B. holding company; in addition, the Israel Discount Bank holds a significant block of shares.
The bank opened branches in London in 1981, and in Zurich in 1984! In 2006 it acquired a 68% interest in Bank Otsar Ha-Hayal for NIS 702 million.
For a long time, FIBI was unique among Israeli banks in offering complete paperwork in English even to ordinary customers: as a result, it was patronized by many English-speaking immigrants.
External links
*Official|http://www.fibi.co.il
Jacques Nasser first name is actually Jack and he was younger than Edmond. Was more more a distant family relative (not uncle)
Safra purchased Fibi for an undisclosed sum
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2010.
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