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International Bank Profit Drops 12.6% Amid New Tax, Interest Rate Cuts
The International Bank's quarterly profit decreased by 12.6% to NIS 581 million, impacted by a new NIS 225 million tax and lower interest rates. Despite the profit decline, the bank will distribute a NIS 254 million dividend. Credit grew by 21.9% to NIS 172.4 billion, and customer assets increased by 16.9%.
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What happened
- 01International Bank's quarterly profit fell 12.6% to NIS 581 million due to a new tax.
- 02A NIS 225 million tax and lower interest rates impacted the bank's revenue and profit.
- 03Despite profit drops, the bank will distribute a NIS 254 million cash dividend.
- 04Credit extended by the bank surged 21.9% to NIS 172.4 billion.
- 05Customer asset portfolios grew by 16.9% to NIS 1.26 trillion.
- 06CEO Eli Cohen described the bank as growing, stable, and maintaining high service standards.
CEO Eli Cohen highlighted the bank's growth and stability.
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