Banking

Mizrahi Tefahot Bank today presents record results against the background of the continued economic recovery in the economy. The business results presented by Mizrahi-Tefahot in the first nine months of the year reflect the continued growth in the Bank's current operations, along with the positive contribution that the transaction yields to the acquisition of Union Bank. This, against the background of positive macro data and the decline of the fourth wave of the corona. In the first nine months of 2021, the Bank recorded record profits of NIS 2.5 billion, compared with a net profit of NIS...

"The Bank of Israel has decided to accelerate its study, research and preparation for the possible issuance of a future digital currency, while providing a proper response to the various risks," said Governor Prof. Amir Yaron at a conference held by the Supervisor of Banks. However, he noted that "like many other central banks, the Bank of Israel has not yet decided whether it intends to issue digital currency, and we are still examining the issue. We are committed to being at the forefront of economic and technological knowledge on this issue." The governor said, "It is important to note...

A very successful start to the year for Bank Leumi. According to the Bank's report for the first quarter of 2022 published on Tuesday, its net profit amounted to NIS 1.6 billion, an increase of 23% compared to NIS 1.3 billion in the corresponding quarter last year. In light of the profit, Leumi will distribute dividends to shareholders in the amount of NIS 322 million, which constitute 20% of the net profit. Leumi also enjoyed growth in credit portfolios in the business (11.2%), commercial (9.7%) and mortgage (4.2%) sectors. As a result, as well as the index gaps, the Bank's interest...

The open banking reform takes effect tomorrow For the first time, customers will be able to transfer banking information to innovative technological entities in a kind of "financial ZAP" that will strengthen customers vis-à-vis banks, promote fintech companies' entry into the market and increase competition in the banking system. One of the significant barriers to increasing competition in the banking system in particular and the financial system in general is the monopoly held by financial entities over the financial information of their customers. The Financial Information Service Law,...

Members of the Association of Retail, Fashion and Catering chains join Max and others and call on the Ministry of Finance to allow all credit card companies in Israel to clear these brands. Today, American Express is eliminated exclusively by Isracard, and Diners is eliminated exclusively by Visa Cal. "The average clearing fee in Israel is less than 0.9%, while the clearing fees of Diners and Amex are higher than 2%. "Refuse to accept your credit card from you? Suddenly he does not pass at the checkout? This may be because you have American Express (Amex) or Diners. Due to the high fee...

Most of the banks in Israel again did not pass on the full interest rate increases to citizens' deposits, the Bank of Israel published today (Sunday) a first comparison between the average interest rates given by each of the banks in Israel in practice for deposits and for credit. The data is expected to be updated once a month, thus helping the public to compare the conditions given by the various banks and, if necessary, to bargain and even switch banks. However, while the data may help customers compare, it does not present a complete picture

The business sector is not ready to accept the bizarre legislative initiatives of the forming coalition and to apply discrimination to the citizens of Israel under the protection of the law. Discount Bank will not grant credit to businesses and entities that discriminate against customers on the basis of religion, race, gender or sexual orientation - this is what the bank's board of directors stated