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First International Bank of Israel was founded in the early 1970s when then Israeli Finance Minister Pinchas Sapir approved the merger of several smaller banks into the former.Edmond Safra acquired control of FIBI in the 1980s: after Edmond Safra's death, the Safra Group sold off its business interests in Israel. As of 2010, FIBI's largest current shareholder is the FIBI Holding Company Ltd, whose largest shareholder is the Bino-Liberman Group; 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. It is notable for being the only major bank in Israel which was not involved in the bank stock crisis in Israel in the early-1980s and as such was the only prominent bank in the country not nationalized as result of the crisis.For a long time, FIBI was unique among Israeli banks in offering complete paperwork in English.
In 2015, Tungsten Corporation plc acquired FIBI's UK division for £30 million.
