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First International Bank of Israel Reports Financial Results for the Third Quarter of 2024

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Reflects continued growth and high profitability while maintaining financial stability

TEL AVIV, Israel, Nov. 25, 2024 /PRNewswire/ — First International Bank of Israel (TASE: FIBI) one of Israel’s major banking groups, today announced its results for the third quarter and nine-month period ended September 30, 2024.

Financial Highlights

Financial Highlights for the Third Quarter of 2024

Net income of NIS 620 million and a return on equity of 19.4% in the third quarter of 2024;Net income of NIS 1,798 million and a return on equity of 19.4% for the first nine months of the year;Credit to the public grew by 6% compared to the end of 2023 and by 3.5% compared to the second quarter of the year;Deposits by the public grew by 11.4% compared to the end of 2023, and by 4.3% compared to the second quarter of the year;The portfolio of customers’ assets grew by 19% compared to the end of 2023, and reached NIS 800 billion;Equity attributed to the Bank’s shareholders was NIS 13 billion, an increase of 8.2% compared to the end of 2023;The tier 1 capital ratio was 11.41%;The Bank’s Board of Directors decided to distribute a dividend in the amount of NIS 248 million, representing 40% of the net income.

Financial Results of the Third Quarter 2024

Net profit for the First International Bank Group was NIS 620 million in the third quarter of 2024, an increase of 36.3 % compared to the comparative quarter in the previous year. Return on equity was 19.4%.

The net profit for the first nine months of the year was NIS 1,798 million, an increase of 7.5% compared to the comparative period in the previous year. The return on equity was 19.4%.

Expense for credit losses was NIS 22 million in the third quarter, amounting to 0.07% of the average balance of credit to the public. Income for credit losses amounted to NIS 51 million in the first nine months of the year, primarily from debt recovery. In the corresponding period of last year, expenses of NIS 336 million were recorded which was due to an increase in collective provisions because of concerns over macroeconomic impacts, amid uncertainty.

High-quality credit portfolio: the NPL (non-performing loan) ratio remained stable and reached 0.57% at the end of the third quarter. This reflects the quality of the credit portfolio, (the balance of debts not accruing or overdue by 90 days or more out of the total credit to the public). The total coverage ratio (the ratio of the total credit loss provisions to the total credit to the public) stood at 1.41%, compared to 1.37% in the comparative period last year.

The operating and other expenses were NIS 2,240 million in the first nine months of the year, an increase of 2% compared to the comparative period in the previous year, mainly due to an increase in other expenses: IT-related, donations, telecommunications and advertising. The efficiency ratio stood at 44.5%.

Credit to the public amounted to NIS 126.4 billion, an increase of 6% compared to the end of 2023. There was an increase in the credit of 3.5% in the third quarter, compared to the second quarter of the year.

Deposits by the public amounted to NIS 213 billion, an increase of 11.4% compared to the end of 2023, and 4.3% compared to the second quarter.

The total customers’ assets portfolio increased by 26% year-over-year and by 19% compared to the end of 2023, to approximately 800 billion.

Equity attributed to shareholders in the Bank increased to NIS 13 billion, an increase of 8.2% compared to the end of 2023. The tier 1 capital ratio reached 11.41%, approximately -2.2% above the regulatory requirement, reflecting the highest capital surplus in the Israeli banking system. The liquidity coverage ratio is high and stands at 171%.

Considering the requests of the Banking Supervisor regarding capital planning and profits distribution policies, the Bank’s Board of Directors decided to approve the distribution of a cash dividend to the shareholders for NIS 248 million representing 40% of the net income. The Bank’s Board of Directors will continue to review the implementation of the Bank’s dividend distribution policy in light of ongoing developments and their impact on the Israeli economy and on the Bank.

Management Comment

Eli Cohen, CEO of First International Bank, commented: ,”The Bank’s reports reflect a growth trend both on the passive side, including deposits and securities of the public, which reached a record NIS 800 billion, and also on the active side, with a considerable increase in the credit portfolio, which has been achieved while maintaining the quality of the underwriting and portfolio diversification.

“Amid economic uncertainty and the ongoing multi-front war in Israel, the First International Bank maintained high capital and liquidity cushions, ensuring resilience and our ability to continue supporting our customers. The Bank is continuing to provide benefits and relief measures for customers to help them navigate the current challenging period.

“I am proud to say that the First International Bank’s customers are the most satisfied among bank customers in Israel, reporting high satisfaction with the Bank, the professionalism of its services and their willingness to recommend the bank to their friends. This is evidenced via customer surveys, including the recent Marketest survey. This reflects the high quality service and competitiveness of the First International Bank, as well as the professionalism and the dedication of our Group’s employees, all of whom have contributed to the achievement.

“We recently announced a number of management changes at the Bank: Vered Golan was appointed to the position of Head of the Corporate Division, Dr. Moriah Hoftman-Doron was appointed to the position of Chief Legal Counsel, and Liora Shechter was appointed CEO of Mataf. I wish considerable success to the new members of our management team.”

 

CONDENSED PRINCIPAL FINANCIAL INFORMATION AND PRINCIPAL EXECUTION INDICES

Principal financial ratios

For the nine months
ended September 30,

For the year ended
December 31,

2024

2023

2023

in %

Principal execution indices

Return on equity attributed to shareholders of the Bank(1)

19.4

20.5

19.7

Return on average assets(1)

1.05

1.10

1.06

Ratio of equity capital tier 1

11.41

10.84

11.35

Leverage ratio

5.17

5.30

5.26

Liquidity coverage ratio

171

142

156

Net stable funding ratio

142

138

146

Ratio of total income to average assets(1)

2.9

3.3

3.2

Ratio of interest income, net to average assets (1)

2.1

2.5

2.4

Ratio of fees to average assets (1)

0.7

0.7

0.7

Efficiency ratio

44.5

43.6

43.5

Credit quality indices

Ratio of provision for credit losses to credit to the public

1.29

1.25

1.36

Ratio of total provision for credit losses (2) to credit to the public

1.41

1.37

1.50

Ratio of non-accruing debts or in arrears of 90 days or more to credit to the public

0.57

0.49

0.60

Ratio of provision for credit losses to total non-accruing credit to the public

230.5

263.8

234.5

Ratio of net write-offs to average total credit to the public (1)

(0.06)

–

0.03

Ratio of expenses (income) for credit losses to average total credit to the public (1)

(0.06)

0.38

0.42

Principal data from the statement of income

For the nine months
ended September 30,

2024

2023

NIS million

Net profit attributed to shareholders of the Bank

1,798

1,673

Interest Income, net

3,601

3,820

Expenses (income) from credit losses

(51)

336

Total non-Interest income

1,436

1,216

   Of which:      Fees

1,123

1,131

Total operating and other expenses

2,240

2,197

   Of which:      Salaries and related expenses

1,302

1,353

Primary net profit per share of NIS 0.05 par value (NIS)

17.92

16.67

Principal data from the balance sheet

30.9.24

30.9.23

31.12.23

NIS million

Total assets

242,512

210,673

221,593

of which:    Cash and deposits with banks

81,440

61,659

68,866

                Securities

28,860

22,043

26,985

                Credit to the public, net

124,749

118,577

117,622

Total liabilities

228,823

198,542

208,947

of which:    Deposits from the public

212,907

181,274

191,125

                Deposits from banks

2,631

3,824

4,314

                Bonds and subordinated capital notes

4,474

4,751

4,767

Capital attributed to the shareholders of the Bank

13,066

11,583

12,071

Additional data

30.9.24

30.9.23

31.12.23

Share price (0.01 NIS)

15,410

16,360

14,990

Dividend per share (0.01 NIS)

739

706

795

(1)    Annualized.

(2)    Including provision in respect of off-balance sheet credit instruments.

 

CONSOLIDATED STATEMENT OF INCOME

(NIS million)

For the three months
ended September 30

For the nine months
ended September 30

For the year Ended
December 31

2024

2023

2024

2023

2023

(unaudited)

(unaudited)

(unaudited)

(unaudited)

(audited)

Interest Income

2,955

2,590

8,410

7,289

9,850

Interest Expenses

1,690

1,363

4,809

3,469

4,884

Interest Income, net

1,265

1,227

3,601

3,820

4,966

Expenses (income) from credit losses

22

165

(51)

336

502

Net Interest Income after expenses from credit losses

1,243

1,062

3,652

3,484

4,464

Non- Interest Income

Non-Interest Financing income

153

(1)

300

78

142

Fees

396

375

1,123

1,131

1,502

Other income

3

–

13

7

8

Total non- Interest income

552

374

1,436

1,216

1,652

Operating and other expenses

Salaries and related expenses

430

438

1,302

1,353

1,746

Maintenance and depreciation of premises and equipment

91

89

264

256

341

Amortizations and impairment of intangible assets

36

31

99

91

122

Other expenses

220

175

575

497

668

Total operating and other expenses

777

733

2,240

2,197

2,877

Profit before taxes

1,018

703

2,848

2,503

3,239

Provision for taxes on profit

390

247

1,033

869

1,090

Profit after taxes

628

456

1,815

1,634

2,149

The bank’s share in profit of equity-basis investee, after taxes

22

21

62

105

113

Net profit:

Before attribution to non‑controlling interests

650

477

1,877

1,739

2,262

Attributed to non‑controlling interests

(30)

(22)

(79)

(66)

(90)

Attributed to shareholders of the Bank

620

455

1,798

1,673

2,172

NIS

Primary profit per share attributed to the shareholders of the Bank

Net profit per share of NIS 0.05 par value

6.18

4.53

17.92

16.67

21.65

 

STATEMENT OF COMPREHENSIVE INCOME

(NIS million)

For the three months
ended September 30

For the nine months
ended September 30

For the year Ended
December 31

2024

2023

2024

2023

2023

(unaudited)

(unaudited)

(unaudited)

(unaudited)

(audited)

Net profit before attribution to non‑controlling interests

650

477

1,877

1,739

2,262

Net profit attributed to non‑controlling interests

(30)

(22)

(79)

(66)

(90)

Net profit attributed to the shareholders of the Bank

620

455

1,798

1,673

2,172

Other comprehensive income (loss) before taxes:

Adjustments of available for sale bonds to fair value, net

129

52

(115)

78

213

Adjustments of liabilities in respect of employee benefits(1)

(2)

34

10

37

25

Other comprehensive income (loss) before taxes

127

86

(105)

115

238

Related tax effect

(49)

(29)

41

(40)

(81)

Other comprehensive income (loss) before attribution to non‑controlling interests, after taxes

78

57

(64)

75

157

Less other comprehensive income (loss) attributed to non‑controlling interests

3

1

(2)

6

9

Other comprehensive income (loss) attributed to the shareholders of the Bank, after taxes

75

56

(62)

69

148

Comprehensive income before attribution to non‑controlling interests

728

534

1,813

1,814

2,419

Comprehensive income attributed to non‑controlling interests

(33)

(23)

(77)

(72)

(99)

Comprehensive income attributed to the shareholders of the Bank

695

511

1,736

1,742

2,320

(1)   Mostly reflects adjustments in respect of actuarial assessments as of the end of the period regarding defined benefits pension plans and deduction of amounts recorded in the past in other comprehensive income.

 

CONSOLIDATED BALANCE SHEET

(NIS million)

September 30,

December 31,

2024

2023

2023

(unaudited)

(unaudited)

(audited)

Assets

Cash and deposits with banks

81,440

61,659

68,866

Securities

28,860

22,043

26,985

Securities borrowed

147

155

57

Credit to the public

126,374

120,073

119,240

Provision for Credit losses

(1,625)

(1,496)

(1,618)

Credit to the public, net

124,749

118,577

117,622

Credit to the government

1,611

1,015

1,055

Investment in investee company

854

776

786

Buildings and equipment

852

871

877

Intangible assets

350

305

328

Assets in respect of derivative instruments

2,308

3,940

3,651

Other assets(2)

1,341

1,332

1,366

Total assets

242,512

210,673

221,593

Liabilities and Capital

Deposits from the public

212,907

181,274

191,125

Deposits from banks

2,631

3,824

4,314

Deposits from the Government

689

665

750

Securities lent or sold under agreements to repurchase

1,542

–

–

Bonds and subordinated capital notes

4,474

4,751

4,767

Liabilities in respect of derivative instruments

2,086

3,496

3,784

Other liabilities(1)(3)

4,494

4,532

4,207

Total liabilities

228,823

198,542

208,947

Shareholders’ equity

13,066

11,583

12,071

Non-controlling interests

623

548

575

Total capital

13,689

12,131

12,646

Total liabilities and capital

242,512

210,673

221,593

(1)    Of which: provision for credit losses in respect of off-balance sheet credit instruments in the amount of NIS 160 million and NIS 150 million and NIS 165 million at 30.9.24, 30.9.23 and 31.12.23, respectively.

(2)    Of which: other assets measured at fair value in the amount of NIS 16 million and NIS 13 million and NIS 10 million at 30.9.24, 30.9.23 and 31.12.23, respectively.

(3)    Of which: other liabilities measured at fair value in the amount of NIS 48 million and NIS 26 million and NIS 11 million at 30.9.24, 30.9.23 and 31.12.23, respectively.

 

STATEMENT OF CHANGES IN EQUITY

(NIS million)

For the three months ended September 30, 2024 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as of June 30, 2024

927

(292)

11,980

12,615

590

13,205

Net profit for the period

–

–

620

620

30

650

Dividend

–

–

(244)

(244)

–

(244)

Other comprehensive income, after tax effect

–

75

–

75

3

78

Balance as at September 30, 2024

927

(217)

12,356

13,066

623

13,689

For the three months ended September 30, 2023 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as of June 30, 2023

927

(290)

10,655

11,292

525

11,817

Net profit for the period

–

–

455

455

22

477

Dividend

–

–

(220)

(220)

–

(220)

Other comprehensive income, after tax effect

–

56

–

56

1

57

Balance as at September 30, 2023

927

(234)

10,890

11,583

548

12,131

For the nine months ended September 30, 2024 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
loss

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as at December 31, 2023 (audited)

927

(155)

11,299

12,071

575

12,646

Net profit for the period

–

–

1,798

1,798

79

1,877

Dividend

–

–

(741)

(741)

(29)

(770)

Other comprehensive loss, after tax effect

–

(62)

–

(62)

(2)

(64)

Balance as at September 30, 2024

927

(217)

12,356

13,066

623

13,689

For the nine months ended September 30, 2023 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as at December 31, 2022 (audited)

927

(303)

9,935

10,559

476

11,035

Adjustment of the opening balance, net of tax, due to the effect of initial implementation in investee company*

–

–

(10)

(10)

–

(10)

Adjusted balance at January 1, 2023, following initial implementation

927

(303)

9,925

10,549

476

11,025

Net profit for the period

–

–

1,673

1,673

66

1,739

Dividend

–

–

(708)

(708)

–

(708)

Other comprehensive income, after tax effect

–

69

–

69

6

75

Balance as at September 30, 2023

927

(234)

10,890

11,583

548

12,131

STATEMENT OF CHANGES IN EQUITY (CONT’D)

(NIS million)

For the year ended December 31, 2023 (audited)

Share
capital and
premium(1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings(2)

Total

Non-
controlling
interests

Total
capital

Balance as at December 31, 2022

927

(303)

9,935

10,559

476

11,035

Adjustment of the opening balance, net of tax, due to the effect of initial implementation in investee company *

–

–

(10)

(10)

–

(10)

Adjusted balance at January 1, 2023, following initial implementation

927

(303)

9,925

10,549

476

11,025

Net profit for the year

–

–

2,172

2,172

90

2,262

Dividend

–

–

(798)

(798)

–

(798)

Other comprehensive income, after tax effect

–

148

–

148

9

157

Balance as at December 31, 2023

927

(155)

11,299

12,071

575

12,646

*       Cumulative effect of the initial implementation of US accounting principles in the matter of financial instruments – credit losses (ASC-326).

(1)    Including share premium of NIS 313 million (as from 1992 onwards).

(2)    Including an amount of NIS 2,391 million which cannot be distributed as dividend.

 

Contact:
Dafna Zucker
First International Bank of Israel
Zucker.d@fibi.co.il
+972-3-519-6224

 

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SOURCE First International Bank of Israel

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Technology

American Battery Solutions Powers Marine Travelift’s New Electric Series Boat Hoists

Published

13 minutes ago

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November 25, 2024

By

LAKE ORION, Mich., Nov. 25, 2024 /PRNewswire/ — American Battery Solutions (ABS) has partnered with Marine Travelift to design, develop and manufacture the advanced battery technology powering its new Electric Series boat hoists. The 50BFMII (50MT capacity boat hoist) combines the innovation of ABS’ electrification and the world-class functionality of Marine Travelift.

“American Battery Solutions is committed to delivering electrification solutions that are not only technologically innovative, but also exceed their expectations for quality, performance and operational efficiency,” said Subhash Dhar, Chairman and CEO of ABS. “The launch of Marine Travelift’s new E-Series is a testament to the power of collaboration and reflects our shared dedication to innovation and sustainability.”

The Marine Travelift E-Series hoist is powered by ABS’ 700-volt battery system manufactured and assembled in the U.S., which supplies power to the hoist’s hydraulic functions, delivering the optimal performance of traditional hoists without the emissions of a diesel engine.

The battery system powering the E-Series utilizes scalable DC fast-charging interfaces from on-road electric vehicles to safely charge the batteries and a full charge can be accomplished in an 8-hour period with the recommended 30kW high-speed smart charger.

All features available on Marine Travelift’s diesel-powered boat hoists are also available in the new E-Series. The first E-Series machine is equipped with options such as electronic all-wheel steering, five-foot top beam extension, work/drive lights and 2-speed hoists to ensure the correct power requirement was chosen to accommodate all option configurations.

The E-Series machines utilize multiple layers of safety features from the moment the machine powered on, including high-voltage junction boxes, isolation monitor, fuses and grounding straps to ensure the operator and batteries are kept safe during every phase of operation. The batteries and electric motor are both regulated by a glycol cooling system to maintain a safe operating temperature in various conditions.

Visit marinetravelift.com to see how the new E-Series is revolutionizing the future of clean, efficient boat hoisting. To learn more about the battery system behind it, contact the experts at ABS.

About American Battery Solutions
American Battery Solutions (ABS) is a leader in designing, developing and manufacturing advanced battery systems for commercial, fleet, and industrial on- and off-road vehicles. A subsidiary of Komatsu America Corp., the Michigan-based manufacturer offers a comprehensive range of capabilities and services to support the development and production of lithium-ion battery systems at its headquarters and innovation center in Lake Orion, Michigan, and state-of-the-art battery manufacturing facility in Springboro, Ohio. From concept development and prototyping to validation and high-volume production, ABS works closely with customers to understand and deliver intelligent battery solutions assembled and manufactured in the USA to drive a sustainable and electrified future. Learn more at americanbatterysolutions.com.

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SOURCE American Battery Solutions

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Technology

CancerIQ Unveils New Patient Acquisition Solution at RSNA 2024

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13 minutes ago

on

November 25, 2024

By

Data shows CancerIQ Reach closes gap between eligibility and participation in payer-supported, standard and supplemental screenings, leads to early cancer diagnoses and promotes health system loyalty

CHICAGO, Nov. 25, 2024 /PRNewswire-PRWeb/ — CancerIQ, a best-in-class, cancer-focused precision health platform, today announced the launch of a new patient acquisition solution for imaging and oncology, CancerIQ Reach, at the Radiological Society of North America (RSNA) Annual Meeting in Chicago, December 1-4. The new solution ushers in a new era for population-based, personalized cancer prevention and early detection.

This approach is proven to increase patient acquisition for high-value service lines, like imaging and oncology.

CancerIQ Reach is a campaign-based marketing outreach solution that helps healthcare providers efficiently and accurately identify individuals in their communities with elevated cancer risk and motivate them to take action within the health system. It requires little to no IT lift or changes to existing workflows, and was developed based on CancerIQ’s decade-long experience working with patients and providers around the country.

“CancerIQ’s mission is to help every patient get ahead of cancer, but we recognize that precision prevention for all is a long-range goal — and there are high-risk patients in our communities who can’t afford to wait, ” said Feyi Ayodele, co-founder and CEO of CancerIQ. “CancerIQ Reach answers that urgent call, enabling health systems to take a precision approach to outreach and drive high-risk patients directly to the service lines that will support their care needs today, not someday in the future.”

CancerIQ Reach includes population segmentation tools and multichannel marketing toolkits that make it easy to engage target populations in online cancer risk assessment using personal and family medical history, as well as lifestyle factors; educate them about their risk and options for early detection; and drive them to follow payer-supported, standard and supplemental screening recommendations throughout their lives.

“We developed CancerIQ Reach with both the patient and the provider in mind,” said Laku Adedoyin, Chief Technology Officer of CancerIQ. “This patient-enabled approach empowers patients with the right amount of information to take action at the right moment in their care journey, while enabling staff to maximize appointment time around shared decision making, rather than data collection.”

This approach is proven to increase patient acquisition for high-value service lines, like imaging and oncology. For example, data from a pilot of CancerIQ Reach shows a campaign targeting patients with a history of smoking led to a 270% monthly increase in low-dose CT scans scheduled at the lung cancer screening clinic. Within the first two months of the campaign, four patients were diagnosed and successfully treated for Stage 1A lung cancer after LDCT screening. Further increasing systemwide value, the campaign led to a significant increase in referrals to radiology for breast MRIs, as well as several referrals to pulmonology and cardiology for follow-up care.

CancerIQ Reach is part of a broader solution for breast imaging and oncology that helps providers create and manage personalized, evidence-based care pathways over time based on comprehensive cancer risk, including genetic, hereditary, lifestyle, adherence risk factors.

CancerIQ Reach will be available on December 1, 2024.

Learn more about CancerIQ Reach at RSNA 2024

The launch of CancerIQ Reach coincides with RSNA 2024. Attendees can learn more about this offering by visiting the booth for iCAD, CancerIQ’s partner in AI-enabled mammography analysis and breast density assessment.

Exhibit Dates: December 1-4, 2024

Show Floor Hours: 10:00 AM-5:00 PM CST

Booth: 4747

About CancerIQ

CancerIQ is the only cancer-focused precision health platform that empowers healthcare providers to detect cancer earlier and prevent it altogether across all patient populations. Integrated directly into real-time EHR workflows, CancerIQ makes it easy to gather comprehensive patient data, automatically map it to the latest evidence-based guidelines, and expand access to personalized care plans, cutting-edge clinical solutions, and genomic innovations. CancerIQ co-founder and CEO Feyi Ayodele was recently named a Modern Healthcare Innovator for pioneering this transformative approach to cancer prevention, early detection and treatment. Learn more at canceriq.com, follow CancerIQ on X or LinkedIn.

Contact

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View original content:https://www.prweb.com/releases/canceriq-unveils-new-patient-acquisition-solution-at-rsna-2024-302315088.html

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Technology

CORERO NETWORK SECURITY TAPS INDUSTRY VETERAN JUDSON THUERK TO LEAD CHANNEL STRATEGY IN THE AMERICAS

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13 minutes ago

on

November 25, 2024

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MARLBOROUGH, Mass., Nov. 25, 2024 /PRNewswire/ — Corero Network Security (AIM: CNS) (OTCQX: DDOSF), the distributed denial of service (DDoS) protection specialists, announces the addition of Judson Thuerk to the Channel and Alliances Team as the Channel Manager for the Americas.

“I am very excited to join Corero, especially at such a pivotal, high-growth moment. The company is clearly poised to become the de facto global leader in safeguarding critical infrastructure against evolving DDoS threats. Trusted partnerships are increasingly essential in today’s evolving cybersecurity landscape and Corero’s partners can expect my relentless commitment to driving mutual growth,” says Thuerk.

Thuerk is a veteran technology sales leader with more than 40 years of experience driving innovative go-to-market strategies and execution at companies such as Xerox, Digital Equipment Corp., Comdisco Disaster Recovery Services, Sungard, Symantec, EMC, Dell, and VMware. He most recently served in a client management role at Lydonia Technologies, a robotic processing automation and data-pipelining services firm.

“Jud’s success developing customer-first relationships that deliver positive business outcomes will bring immediate value to our trusted channel partners. We are thrilled to have him join the Corero team,” says Corey Still, Vice President, Strategic Alliances at Corero Network Security.

To learn more about Corero Network Security’s partner program or to become a partner, please visit https://www.corero.com/partners/.

About Corero Network Security
Corero Network Security is a leading provider of DDoS protection solutions, specializing in automatic detection and protection solutions with network visibility, analytics, and reporting tools. Corero’s technology protects against external and internal DDoS threats in complex edge and subscriber environments, ensuring internet service availability. With operational centers in Marlborough, Massachusetts, USA, and Edinburgh, UK, Corero is headquartered in London and listed on the London Stock Exchange’s AIM market (ticker: CNS) and the US OTCQX Market (OTCQX: DDOSF). 

For more information, visit www.corero.com, and follow us on LinkedIn and X.

View original content to download multimedia:https://www.prnewswire.com/news-releases/corero-network-security-taps-industry-veteran-judson-thuerk-to-lead-channel-strategy-in-the-americas-302314700.html

SOURCE Corero Network Security

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