Norway fund exits five banks, including First International Bank of Israel stock
Published on 10/14/2026 at 15:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSInstitutional exit and bank earnings
- Norway's fund announced a five-bank exit involving USD 661 million in holdings on October 12, 2026.
- First International Bank of Israel reported ILS 583 million net income in the second quarter of 2026.
- Investing.com lists an ILS 28,000 twelve-month analyst target for the bank.
- The bank's market capitalization stood at ILA 23.3 billion as of October 14, 2026.
Norway's sovereign wealth fund has exited five Israeli banks, including First International Bank of Israel, while Investing.com lists an ILS 28,000 twelve-month analyst target for the bank. The divestment was announced on October 12, 2026, and gives the stock a fresh institutional-risk overhang alongside its latest earnings strength.
USD 661 million leaves five banks
According to MINA on October 12, 2026, the fund's holdings in the five banks were valued at USD 661 million at the end of June. First International Bank of Israel was included in the withdrawal despite positive second-quarter results, placing ethical-screening pressure beside the bank's operating performance.
The move is not presented as an earnings warning. It is an ownership and reputational factor that can affect institutional demand, while the bank's latest reported profit provides a separate measure of financial resilience.
What do the earnings show?
Investing.com reports net income of ILS 583 million in the second quarter of 2026, up from ILS 480 million in the first quarter. The same source lists revenue of ILS 1.801 billion in the latest quarter versus ILS 1.648 billion in the preceding quarter, a comparison that points to stronger sequential earnings and revenue.
The figures matter because the external pressure arrived after a profitable quarter rather than during a reported loss. The bank's profile includes mortgage, household, private-banking, commercial and capital-markets activities, giving the earnings base several operating channels.
Legal risk adds a counterweight
Yahoo Finance reported on September 29, 2026, that a class action concerning automatic interest on positive current-account balances had been allowed to proceed. The report also cited a 10.7 price-to-earnings ratio, a 12.2 percent five-year earnings-growth rate and an 8.6 percent fall in earnings over the past year, creating a mixed valuation and legal backdrop.
For investors, the central contrast is clear: the second-quarter net-income comparison is positive, while institutional screening and litigation introduce non-operating risks that can shape valuation.
TASE quote and market value
First International Bank of Israel stock stood at ILA 23,220.00 on the Tel Aviv Stock Exchange at 4:39 p.m. IDT on October 14, 2026. Its market capitalization was ILA 23.3 billion on the same date, and the quoted 52-week range was ILA 20,690.00 to ILA 30,090.00.
First International Bank of Israel market facts
- Company: First International Bank of Israel Ltd
- ISIN: IL0005930388
- Ticker: FIBI.TA
- Primary exchange: Tel Aviv Stock Exchange
- Primary exchange price: ILA 23,220.00 as of October 14, 2026 at 4:39 p.m. IDT
- Market capitalization: ILA 23.3 billion as of October 14, 2026
- 52-week range: ILA 20,690.00-ILA 30,090.00 as of October 14, 2026
- Sector / Industry: Financial Services / Regional Banks
Market context: Market report TA-35.
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