Banking

Gross domestic product increased by 4.8% in the first quarter of 2019 compared to the fourth quarter of 2018, according to the second estimate published by the Central Bureau of Statistics on Sunday. This increase is more moderate than the previous estimate for the first quarter published last month, which reported an increase of 5.2%. Although the Central Bureau of Statistics has revised its growth rate in the first quarter downwards, this is still an impressive figure, reflecting an increase in the economy's growth rate, by 3.8% in the fourth quarter and 3.8% in the third quarter of 2018

The Bank of Israel Supervisor, headed by Supervisor Dr. Hedva Bar, and the Bank of Israel, headed by Prof. Amir Yaron, announced that they have approved a new bank in Israel. The Central Bank and the Banking Supervision Authority decided to grant a bank license to Marius Nacht's digital bank Jack Point, to which Amnon Shaashua minority shareholder, founder and manager of Mobilai and Orkam is a member. Alongside them is expected to be appointed bank chairman Shuki Oren, with the appointed CEO being a senior gal who was previously a senior at Leumi Digital Bank. The last bank to receive...

The credit company I am a client of never cease to amaze me. The world says that we are sometimes liars and there is unfortunately a basis for this saying This morning I read about a luxury card issued by American Express, Premium El Al card. Who doesn't want to get a free ticket for the credit his or her shopping with their credit card. So that's what we have. American Express opened the door for us to fulfill the dream. So how much money do you have to spend to get to New York for Free? More than NIS a quarter of a million shekels (266000 NIS)

According to a study published by the Bank of Israel, 14% of the bachelor's degree holders are more educated than necessary. The Bank of Israel refers to surplus education when a person's formal education is higher than he is required to do his job. The way to check this is by comparing his number of school years to the average school year in that occupation. The study, conducted by Noam Sussman, Idan Lippiner and Dror Rosenfeld of the Bank of Israel's research division, also found that about 40% of undergraduate students work in a non-conforming job with the study profession they...

Data published by the Bank of Israel in the third quarter of the year negative balance (overdraft) decreased by NIS 700 million to NIS 11 billion - a decrease of 6%. The decrease in the share of overdraft from the total consumer credit. As of the end of September, bank overdrafts Only 5.5% of consumer credit was up, compared to over 7% at the end of October 2016, when the downward trend began. The Bank of Israel raises several options that can explain this trend. The report said, "There is an increase in credit options for households, so that the ability of consumers to borrow neatly - and...

"The Israeli economy is facing a severe recession and GDP is expected to decline by 8.3%, which means growth is expected to be negative and stand at 8.3%. If a second outbreak of the Corona epidemic occurs later this year, and 6.2% if the epidemic goes away by the summer. " This is the sharpest recession since the establishment of the state, and the forecast is much gloomier than that of the Bank of Israel, which estimated the impact on GDP at only 5.3%. The decline in growth, according to the optimistic outlook, is also stronger than the world average (6%), but less than the expected west...

The Supervisor of Banks has approved an extension and further expansion of the comprehensive outline for deferring payments on bank loans. On May 7, 2020, the Supervisor formulated an outline, adopted by the banking system, that allows customers to defer loan payments in three operating segments: mortgages, consumer credit and business credit. The goal is to continue to assist customers in dealing with the cash flow difficulties following the consequences of the crisis, while managing risk wisely and responsibly, the Supervisor of Banks announced on 13.7.2020 the extension and expansion of...

Bank Mizrahi Tefahot published the results of the third quarter of 2020 with a return on equity of 9.5% compared to 11.1% in the corresponding quarter. The net profit was NIS 387 million, despite a provision for credit losses of NIS 317 million as a result of the corona crisis. Based on the results for the quarter, the return on marketable capital is about 9.3%. Net income was NIS 387 million, compared with NIS 422 million in the corresponding quarter last year. The total profit amounted to NIS 403 million, compared with NIS 388 million in the corresponding quarter last year

The EU's investment bank EIB will provide NIS 30 million in financing to Brennmiller Energy for the construction of a plant for innovative thermal energy storage systems, which will be established near Dimona and will provide the city's residents with about 100 new jobs. Funding for the new plant is made possible as a result of Israel's participation in the European Horizon 2020 Framework Program for the Advancement of Research and Innovation. The loan is supported by the European Commission as part of the financing of InnovFin Energy Demonstration Projects. The European Investment Bank...

The Bank of Israel has announced a reform designed to increase information transparency and competition in the mortgage market. The new reform is expected to facilitate borrowers in three key aspects: transparency and the ability to compare, simplicity and the ability to understand and efficiency in carrying out the process. It is estimated that the reform is expected to take full effect towards the middle of 2022 and there may be further changes. The Bank of Israel actually takes competition in the banking system one step further and requires the banking system to present uniform mortgage...